Novo Nordisk A/S (NYSE:NVO) Trading 1.7% Higher After Analyst Upgrade

Key Points

• Novo Nordisk A/S shares rose 1.7% following an upgrade from Berenberg Bank, which changed the stock rating from hold to buy.
• The company has an average rating of "Hold" from analysts, with price targets ranging around $81.00 despite varying assessments from different brokerages.
• Recently, Novo Nordisk reported quarterly earnings of $0.97 per share, exceeding estimates, and declared a semi-annual dividend of $0.4119.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) shares traded up 1.7% on Wednesday after Rothschild Redb upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $59.15 and last traded at $58.20. 15,700,290 shares were traded during trading, an increase of 32% from the average session volume of 11,887,387 shares. The stock had previously closed at $57.20.

Several other equities research analysts also recently commented on the stock. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price target for the company in a research report on Wednesday, August 13th. UBS Group lowered Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Wall Street Zen lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $81.00.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of institutional investors have recently bought and sold shares of NVO. Revolve Wealth Partners LLC raised its stake in Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock valued at $214,000 after purchasing an additional 200 shares in the last quarter. Waverly Advisors LLC lifted its holdings in Novo Nordisk A/S by 105.4% during the 4th quarter. Waverly Advisors LLC now owns 13,929 shares of the company's stock worth $1,198,000 after buying an additional 7,147 shares during the period. Mosaic Family Wealth Partners LLC lifted its holdings in Novo Nordisk A/S by 31.5% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 2,941 shares of the company's stock valued at $253,000 after buying an additional 704 shares during the period. Vise Technologies Inc. grew its stake in Novo Nordisk A/S by 4.4% during the fourth quarter. Vise Technologies Inc. now owns 20,443 shares of the company's stock worth $1,759,000 after purchasing an additional 862 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in Novo Nordisk A/S in the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 0.6%

The firm's 50-day moving average price is $56.88 and its 200 day moving average price is $65.26. The company has a market cap of $274.37 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 2.33 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

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

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's payout ratio is presently 22.53%.

Novo Nordisk A/S Company Profile

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.