Novo Nordisk A/S (NYSE:NVO) Price Target Cut to $156.00 by Analysts at BMO Capital Markets

Novo Nordisk A/S (NYSE:NVO) had its price target cut by BMO Capital Markets from $160.00 to $156.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also issued reports on NVO. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Trading Down 0.1 %

Shares of Novo Nordisk A/S stock opened at $118.09 on Thursday. Novo Nordisk A/S has a 1-year low of $92.94 and a 1-year high of $148.15. The company’s fifty day simple moving average is $128.48 and its 200-day simple moving average is $131.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a market capitalization of $529.93 billion, a PE ratio of 40.44, a P/E/G ratio of 1.56 and a beta of 0.42.

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

Novo Nordisk A/S Cuts Dividend

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

Hedge Funds Weigh In On Novo Nordisk A/S

Several hedge funds have recently modified their holdings of the stock. Advisor OS LLC boosted its stake in shares of Novo Nordisk A/S by 0.6% during the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after purchasing an additional 82 shares during the period. Cascade Financial Partners LLC lifted its holdings in Novo Nordisk A/S by 2.3% during the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after buying an additional 84 shares in the last quarter. Novare Capital Management LLC boosted its position in Novo Nordisk A/S by 3.2% in the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after buying an additional 85 shares during the period. AA Financial Advisors LLC grew its stake in Novo Nordisk A/S by 3.2% in the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after acquiring an additional 86 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC increased its position in shares of Novo Nordisk A/S by 2.3% during the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after acquiring an additional 86 shares during the period. 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.