Novo Nordisk A/S (NYSE:NVO) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Novo Nordisk A/S (NYSE:NVO - Free Report) in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a $160.00 target price on the stock.

NVO has been the topic of several other research reports. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an overweight rating and a $120.00 price objective on the stock. UBS Group initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a neutral rating on the stock. Finally, BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They issued an outperform rating and a $163.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $133.60.

Novo Nordisk A/S Stock Down 1.4 %

NYSE NVO traded down $1.77 during trading hours on Thursday, hitting $122.76. 2,840,069 shares of the company traded hands, compared to its average volume of 4,881,376. The business's 50-day moving average is $126.28 and its 200-day moving average is $110.42. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $138.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. The stock has a market capitalization of $550.89 billion, a price-to-earnings ratio of 45.51, a P/E/G ratio of 2.06 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.33 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were paid a dividend of $0.664 per share. The ex-dividend date of this dividend was Friday, March 22nd. This represents a dividend yield of 0.9%. This is a positive change from Novo Nordisk A/S's previous Semi-Annual dividend of $0.22. Novo Nordisk A/S's dividend payout ratio (DPR) is 49.17%.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of large investors have recently made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new stake in Novo Nordisk A/S during the second quarter worth approximately $29,000. First PREMIER Bank acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $25,000. Tower Research Capital LLC TRC grew its position in Novo Nordisk A/S by 165.3% during the first quarter. Tower Research Capital LLC TRC now owns 199 shares of the company's stock worth $32,000 after buying an additional 124 shares in the last quarter. CNB Bank acquired a new stake in Novo Nordisk A/S during the fourth quarter worth approximately $26,000. Finally, Pacific Center for Financial Services grew its position in Novo Nordisk A/S by 100.0% during the third quarter. Pacific Center for Financial Services now owns 270 shares of the company's stock worth $25,000 after buying an additional 135 shares in the last quarter. Institutional investors own 11.54% of the company's stock.

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.