Novo Nordisk A/S (NYSE:NVO) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Novo Nordisk A/S has received an average rating of "Moderate Buy" from 20 brokerage firms, with a price objective of $77.50 over the next 12 months.
• Hedge funds have increased their positions in Novo Nordisk, with significant purchases made by firms like Copeland Capital Management and North Capital Inc.
• The company reported quarterly earnings of $0.97 EPS, surpassing the expected $0.93 EPS, alongside a revenue of $11.69 billion.

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) have received an average rating of "Moderate Buy" from the twenty ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $77.50.

Several analysts have issued reports on the company. Morgan Stanley lowered Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and dropped their price objective for the company from $59.00 to $47.00 in a research note on Monday, September 29th. BNP Paribas Exane raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price target on the stock in a research report on Wednesday, August 13th. Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Zacks Research upgraded Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Novo Nordisk A/S in a research note on Saturday, September 27th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. North Capital Inc. bought a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $27,000. Copeland Capital Management LLC raised its position in shares of Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after acquiring an additional 255 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $30,000. NewSquare Capital LLC raised its position in shares of Novo Nordisk A/S by 174.1% in the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company's stock worth $31,000 after acquiring an additional 282 shares in the last quarter. Finally, Disciplina Capital Management LLC raised its position in shares of Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock worth $33,000 after acquiring an additional 297 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $58.64 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock's 50 day moving average price is $55.26 and its two-hundred day moving average price is $63.33. The firm has a market capitalization of $261.83 billion, a price-to-earnings ratio of 16.11, a P/E/G ratio of 2.70 and a beta of 0.68. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $120.56.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. On average, analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 22.53%.

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.

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