Novo Nordisk A/S (NYSE:NVO) Stock Rating Reaffirmed by Cantor Fitzgerald

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

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

Novo Nordisk A/S Stock Down 1.4 %

Shares of NVO stock opened at $122.76 on Thursday. The company has a market capitalization of $550.89 billion, a price-to-earnings ratio of 45.38, a P/E/G ratio of 2.08 and a beta of 0.41. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $138.28. The firm has a fifty day moving average of $126.36 and a 200-day moving average of $110.50. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (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 analysts’ expectations of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. As a group, equities research analysts predict that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 25th were issued a dividend of $0.664 per share. This represents a yield of 0.9%. The ex-dividend date of this dividend was Friday, March 22nd. 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 is presently 49.17%.

Institutional Trading of Novo Nordisk A/S

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC increased its position in Novo Nordisk A/S by 100.3% during the third quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock worth $2,129,761,000 after buying an additional 11,727,507 shares during the last quarter. Polen Capital Management LLC acquired a new position in Novo Nordisk A/S during the third quarter worth approximately $718,995,000. FMR LLC increased its position in Novo Nordisk A/S by 122.7% during the third quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after buying an additional 6,654,614 shares during the last quarter. Morgan Stanley increased its position in Novo Nordisk A/S by 96.5% during the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after buying an additional 4,526,199 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in Novo Nordisk A/S by 91.7% during the third quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after buying an additional 4,350,862 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

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.