Novo Nordisk A/S (NYSE:NVO) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Novo Nordisk A/S (NYSE:NVO) from a strong-buy rating to a buy rating in a report published on Wednesday.

Several other brokerages also recently weighed in on NVO. BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reissued an overweight rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of Moderate Buy and a consensus target price of $145.17.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $120.04 on Wednesday. The company has a market cap of $538.68 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 1.53 and a beta of 0.42. The firm’s fifty day moving average is $129.39 and its 200 day moving average is $132.00. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 52-week low of $92.94 and a 52-week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Sell-side analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is presently 24.66%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. GQG Partners LLC grew its holdings in Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after acquiring an additional 3,151,584 shares in the last quarter. DSM Capital Partners LLC grew its holdings in Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after acquiring an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Novo Nordisk A/S by 1,300.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after acquiring an additional 1,155,313 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Novo Nordisk A/S by 10.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Novo Nordisk A/S by 34,472.1% during the 2nd quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after acquiring an additional 689,441 shares in the last quarter. Hedge funds and other 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.