Novo Nordisk A/S’s (NVO) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

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

Several other equities research analysts have also issued reports on NVO. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an overweight rating and a $120.00 price objective for the company. BMO Capital Markets started coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They issued an outperform rating and a $163.00 price objective for the company. Finally, UBS Group started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a neutral rating for the company. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $133.60.

Novo Nordisk A/S Trading Down 1.4 %

Shares of NYSE:NVO opened at $122.76 on Thursday. The firm has a fifty day moving average of $126.36 and a two-hundred day moving average of $110.50. The firm has a market capitalization of $550.89 billion, a P/E ratio of 45.38, a price-to-earnings-growth 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 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 quarterly earnings data on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The business had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.14 billion. On average, equities analysts expect that Novo Nordisk A/S will post 3.32 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NVO. Jennison Associates LLC increased its holdings in shares of Novo Nordisk A/S by 100.3% during the 3rd quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock worth $2,129,761,000 after purchasing an additional 11,727,507 shares during the period. Polen Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the 3rd quarter worth about $718,995,000. FMR LLC increased its holdings in shares of Novo Nordisk A/S by 122.7% during the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after purchasing an additional 6,654,614 shares during the period. Morgan Stanley increased its holdings in shares of Novo Nordisk A/S by 96.5% during the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after purchasing an additional 4,526,199 shares during the period. Finally, Loomis Sayles & Co. L P increased its holdings in shares of Novo Nordisk A/S by 91.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after purchasing an additional 4,350,862 shares during the period. 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.