Novo Nordisk A/S (NYSE:NVO) Upgraded to Outperform at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Novo Nordisk A/S (NYSE:NVO) from a market perform rating to an outperform rating in a report released on Tuesday morning, Marketbeat reports.

Several other equities research analysts have also issued reports on NVO. BNP Paribas Exane upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price target for the company in a report on Wednesday, August 13th. HSBC lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 price target for the company. in a report on Thursday, July 31st. Hsbc Global Res lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. TD Cowen reduced their price target on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. Finally, Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Hold” and a consensus price target of $81.00.

Novo Nordisk A/S Trading Down 0.1%

Shares of NYSE NVO opened at $54.29 on Tuesday. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $138.22. The firm has a market capitalization of $242.40 billion, a PE ratio of 14.91, a PEG ratio of 2.06 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $58.25 and a two-hundred day moving average price of $66.74.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. As a group, analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s payout ratio is 22.53%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NVO. Park Square Financial Group LLC acquired a new position in shares of Novo Nordisk A/S during the fourth quarter worth approximately $29,000. North Capital Inc. acquired a new position in shares of Novo Nordisk A/S during the first quarter worth approximately $27,000. Copeland Capital Management LLC lifted its holdings in shares of Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after buying an additional 255 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of Novo Nordisk A/S during the first quarter worth approximately $30,000. Finally, NewSquare Capital LLC lifted its holdings in shares of Novo Nordisk A/S by 174.1% during the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after buying an additional 282 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.