Novo Nordisk A/S (NYSE:NVO) Upgraded at BNP Paribas Exane

BNP Paribas Exane upgraded shares of Novo Nordisk A/S (NYSE:NVO) from an underperform rating to a neutral rating in a research note issued to investors on Wednesday, MarketBeat reports. They currently have $54.00 price target on the stock.

NVO has been the topic of several other research reports. Guggenheim lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. HSBC lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 price objective on the stock. in a report on Thursday, July 31st. BMO Capital Markets reaffirmed a “market perform” rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Finally, Dbs Bank lowered Novo Nordisk A/S to a “sell” rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Hold” and a consensus price target of $83.75.

Novo Nordisk A/S Stock Up 2.9%

Shares of NYSE NVO opened at $52.43 on Wednesday. The stock has a market cap of $234.10 billion, a P/E ratio of 14.40, a PEG ratio of 1.75 and a beta of 0.63. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $139.74. The business’s fifty day simple moving average is $64.96 and its 200-day simple moving average is $70.44.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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, equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be given a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date is Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 45.05%.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BIP Wealth LLC grew its stake in Novo Nordisk A/S by 3.9% in the 4th quarter. BIP Wealth LLC now owns 3,642 shares of the company’s stock worth $313,000 after acquiring an additional 138 shares during the period. First Hawaiian Bank grew its stake in Novo Nordisk A/S by 0.6% in the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock worth $1,556,000 after acquiring an additional 142 shares during the period. Anchor Investment Management LLC grew its stake in Novo Nordisk A/S by 1.1% in the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock worth $944,000 after acquiring an additional 150 shares during the period. Xponance Inc. grew its stake in Novo Nordisk A/S by 5.0% in the 1st quarter. Xponance Inc. now owns 3,314 shares of the company’s stock worth $230,000 after acquiring an additional 158 shares during the period. Finally, Foster Dykema Cabot & Partners LLC grew its stake in Novo Nordisk A/S by 3.8% in the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock worth $319,000 after acquiring an additional 166 shares during the period. 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.