Novo Nordisk A/S (NYSE:NVO) Receives Consensus Rating of “Hold” from Brokerages

Novo Nordisk A/S (NYSE:NVO) has received an average recommendation of “Hold” from the twenty-one research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $56.0714.

Several analysts have recently commented on the company. Morgan Stanley reissued an “underweight” rating and issued a $42.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, December 3rd. Argus reissued a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, December 8th. Citigroup assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 27th. They set a “neutral” rating on the stock. TD Cowen reiterated a “buy” rating on shares of Novo Nordisk A/S in a research note on Tuesday, February 3rd. Finally, Zacks Research lowered shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th.

Novo Nordisk A/S Stock Down 0.2%

Shares of NYSE:NVO opened at $49.26 on Thursday. Novo Nordisk A/S has a fifty-two week low of $43.08 and a fifty-two week high of $93.80. The company has a quick ratio of 0.57, a current ratio of 0.80 and a debt-to-equity ratio of 0.61. The firm’s 50-day simple moving average is $53.86 and its 200-day simple moving average is $53.24. The company has a market cap of $219.94 billion, a price-to-earnings ratio of 14.20 and a beta of 0.67.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. Novo Nordisk A/S had a net margin of 33.03% and a return on equity of 68.91%. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $11.97 billion. As a group, equities research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, April 8th. Investors of record on Monday, March 30th will be paid a $1.2751 dividend. This represents a yield of 541.0%. The ex-dividend date of this dividend is Monday, March 30th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 23.63%.

Institutional Trading of Novo Nordisk A/S

Institutional investors have recently bought and sold shares of the company. Lockheed Martin Investment Management Co. lifted its stake in Novo Nordisk A/S by 179.4% during the second quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock worth $2,999,000 after purchasing an additional 27,900 shares during the last quarter. Martin Capital Partners LLC raised its holdings in shares of Novo Nordisk A/S by 53.8% during the third quarter. Martin Capital Partners LLC now owns 117,577 shares of the company’s stock worth $6,524,000 after purchasing an additional 41,129 shares during the period. Markel Group Inc. lifted its position in shares of Novo Nordisk A/S by 4.9% in the 3rd quarter. Markel Group Inc. now owns 2,368,649 shares of the company’s stock worth $131,436,000 after buying an additional 110,061 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at about $1,294,000. Finally, WCM Investment Management LLC grew its position in shares of Novo Nordisk A/S by 3.7% during the 3rd quarter. WCM Investment Management LLC now owns 2,732,182 shares of the company’s stock valued at $151,636,000 after buying an additional 97,477 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.