Novo Nordisk A/S (NYSE:NVO) Price Target Cut to $160.00

Novo Nordisk A/S (NYSE:NVO) had its target price lowered by BMO Capital Markets from $170.00 to $160.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Argus increased their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a buy rating in a research report on Monday, June 10th. Cantor Fitzgerald restated an overweight rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, August 5th. Finally, The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a buy rating and a $156.00 price objective on the stock. Two investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $145.17.

Novo Nordisk A/S Price Performance

NYSE NVO traded up $5.30 during trading hours on Thursday, reaching $133.47. 7,503,650 shares of the stock traded hands, compared to its average volume of 4,552,021. The stock has a 50 day simple moving average of $137.53 and a two-hundred day simple moving average of $129.94. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The company has a market cap of $598.95 billion, a price-to-earnings ratio of 46.02, a price-to-earnings-growth ratio of 1.33 and a beta of 0.41.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 16th will be issued a $0.5126 dividend. The ex-dividend date is Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 45.52%.

Hedge Funds Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVO. First PREMIER Bank bought a new stake in Novo Nordisk A/S in the 1st quarter worth about $25,000. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S during the second quarter valued at approximately $25,000. CNB Bank purchased a new stake in Novo Nordisk A/S during the 4th quarter valued at $26,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at $26,000. Finally, Orion Capital Management LLC purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth $26,000. 11.54% of the stock is owned by institutional investors.

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.