Novo Nordisk A/S (NYSE:NVO) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Novo Nordisk A/S (NYSE:NVO) from a buy rating to a strong-buy rating in a report released on Friday morning.

NVO has been the topic of a number of other reports. BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO traded down $0.01 during mid-day trading on Friday, reaching $111.94. The stock had a trading volume of 4,554,729 shares, compared to its average volume of 4,364,513. The business’s 50 day moving average price is $124.25 and its 200 day moving average price is $130.85. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The company has a market cap of $502.33 billion, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. Research analysts expect that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is currently 24.66%.

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors have recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S in the 2nd quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC lifted its stake in Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S in the second quarter valued at $25,000. Orion Capital Management LLC acquired a new stake in Novo Nordisk A/S during the 1st quarter worth about $26,000. Finally, Halpern Financial Inc. lifted its holdings in shares of Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after buying an additional 113 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

About Novo Nordisk A/S

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.