Novo Nordisk A/S (NYSE:NVO) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Novo Nordisk A/S (NYSE:NVO) to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

Several other research firms have also issued reports on NVO. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. Guggenheim lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $135.00.

Novo Nordisk A/S Trading Up 2.1 %

Shares of NVO opened at $66.53 on Monday. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $148.15. The business’s fifty day moving average is $72.40 and its 200-day moving average is $88.69. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The firm has a market cap of $298.56 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 0.90 and a beta of 0.61.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st were paid a $0.7874 dividend. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend was Monday, March 31st. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio is 49.54%.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVO. Xponance Inc. boosted its stake in Novo Nordisk A/S by 5.0% during the first quarter. Xponance Inc. now owns 3,314 shares of the company’s stock worth $230,000 after buying an additional 158 shares during the period. Cerity Partners LLC boosted its stake in Novo Nordisk A/S by 22.5% during the first quarter. Cerity Partners LLC now owns 928,213 shares of the company’s stock worth $63,685,000 after buying an additional 170,494 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in Novo Nordisk A/S during the first quarter worth $1,787,000. Capital Insight Partners LLC boosted its stake in Novo Nordisk A/S by 5.9% during the first quarter. Capital Insight Partners LLC now owns 55,307 shares of the company’s stock worth $3,841,000 after buying an additional 3,095 shares during the period. Finally, Peddock Capital Advisors LLC lifted its position in shares of Novo Nordisk A/S by 43.2% during the first quarter. Peddock Capital Advisors LLC now owns 11,415 shares of the company’s stock worth $793,000 after purchasing an additional 3,445 shares during the last quarter. 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.