Cantor Fitzgerald Weighs in on Novo Nordisk A/S’s FY2024 Earnings (NYSE:NVO)

Novo Nordisk A/S (NYSE:NVO) – Analysts at Cantor Fitzgerald dropped their FY2024 earnings per share (EPS) estimates for Novo Nordisk A/S in a research note issued to investors on Wednesday, March 27th. Cantor Fitzgerald analyst L. Chen now expects that the company will post earnings of $3.21 per share for the year, down from their previous forecast of $3.23. Cantor Fitzgerald currently has a “Overweight” rating and a $160.00 target price on the stock. The consensus estimate for Novo Nordisk A/S’s current full-year earnings is $3.35 per share.

Several other equities analysts have also weighed in on NVO. TD Cowen increased their price objective on Novo Nordisk A/S from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, December 4th. UBS Group started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating for the company. Finally, Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $126.25.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $128.40 on Friday. The firm has a 50-day moving average of $121.76 and a 200-day moving average of $104.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $138.28. The company has a market cap of $576.20 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.11 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $9.51 billion during 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%.

Novo Nordisk A/S Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th will be issued a dividend of $0.664 per share. The ex-dividend date of this dividend is Friday, March 22nd. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a dividend yield of 0.9%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 49.17%.

Institutional Trading of Novo Nordisk A/S

Several institutional investors have recently bought and sold shares of NVO. Newbridge Financial Services Group Inc. increased its position in shares of Novo Nordisk A/S by 801.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,390 shares of the company’s stock valued at $454,000 after acquiring an additional 3,903 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Novo Nordisk A/S during the fourth quarter valued at $1,876,000. PNC Financial Services Group Inc. boosted its position in shares of Novo Nordisk A/S by 3.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 647,614 shares of the company’s stock valued at $66,996,000 after buying an additional 22,669 shares during the last quarter. M3 Advisory Group LLC bought a new stake in Novo Nordisk A/S in the 4th quarter worth about $210,000. Finally, Walden Wealth Partners LLC purchased a new position in Novo Nordisk A/S in the 4th quarter worth about $445,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

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.