FY2024 EPS Estimate for Novo Nordisk A/S Lowered by Analyst

Novo Nordisk A/S (NYSE:NVO) – Stock analysts at Cantor Fitzgerald decreased their FY2024 earnings per share (EPS) estimates for Novo Nordisk A/S in a research note issued on Tuesday, January 21st. Cantor Fitzgerald analyst L. Chen now expects that the company will earn $3.10 per share for the year, down from their prior forecast of $3.21. Cantor Fitzgerald has a “Overweight” rating and a $160.00 price objective on the stock. The consensus estimate for Novo Nordisk A/S’s current full-year earnings is $3.17 per share. Cantor Fitzgerald also issued estimates for Novo Nordisk A/S’s FY2025 earnings at $3.44 EPS.

NVO has been the subject of several other reports. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. 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. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Finally, BMO Capital Markets decreased their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. One investment analyst has 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Up 1.0 %

Shares of NYSE:NVO opened at $81.36 on Thursday. The company’s fifty day moving average is $96.10 and its 200-day moving average is $115.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 52 week low of $78.17 and a 52 week high of $148.15. The company has a market capitalization of $365.09 billion, a PE ratio of 26.33, a P/E/G ratio of 0.89 and a beta of 0.45.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NVO. GFS Advisors LLC acquired a new position in shares of Novo Nordisk A/S during the fourth quarter valued at $240,000. Caprock Group LLC lifted its position in Novo Nordisk A/S by 1.7% during the 4th quarter. Caprock Group LLC now owns 62,265 shares of the company’s stock valued at $5,356,000 after purchasing an additional 1,013 shares during the period. Keudell Morrison Wealth Management lifted its position in Novo Nordisk A/S by 4.6% during the 4th quarter. Keudell Morrison Wealth Management now owns 8,548 shares of the company’s stock valued at $735,000 after purchasing an additional 378 shares during the period. Institute for Wealth Management LLC. grew its position in shares of Novo Nordisk A/S by 22.3% during the 4th quarter. Institute for Wealth Management LLC. now owns 15,823 shares of the company’s stock worth $1,361,000 after buying an additional 2,881 shares during the period. Finally, Fortune Financial Advisors LLC raised its stake in shares of Novo Nordisk A/S by 2.1% during the fourth quarter. Fortune Financial Advisors LLC now owns 27,386 shares of the company’s stock worth $2,356,000 after buying an additional 568 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

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.