Novo Nordisk A/S (NYSE:NVO) Trading Up 1.3% Following Analyst Upgrade

Novo Nordisk A/S (NYSE:NVO)’s share price traded up 1.3% during mid-day trading on Wednesday after Sanford C. Bernstein upgraded the stock from a market perform rating to an outperform rating. The company traded as high as $55.05 and last traded at $55.03. 7,137,751 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 11,771,351 shares. The stock had previously closed at $54.30.

A number of other equities research analysts have also recently issued reports on the stock. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. TD Cowen dropped their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. HSBC cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 target price on the stock. in a research note on Thursday, July 31st. Finally, Hsbc Global Res cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $81.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NVO. Revolve Wealth Partners LLC boosted its position in shares of Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after acquiring an additional 200 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Novo Nordisk A/S by 3.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,080 shares of the company’s stock valued at $8,179,000 after buying an additional 2,920 shares during the period. Nuveen Asset Management LLC raised its holdings in Novo Nordisk A/S by 73.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company’s stock valued at $537,189,000 after buying an additional 2,639,693 shares during the period. Nia Impact Advisors LLC raised its holdings in Novo Nordisk A/S by 1.8% in the 4th quarter. Nia Impact Advisors LLC now owns 23,200 shares of the company’s stock valued at $1,996,000 after buying an additional 415 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in Novo Nordisk A/S by 4.9% in the 4th quarter. Quantinno Capital Management LP now owns 211,866 shares of the company’s stock valued at $18,225,000 after buying an additional 9,885 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

The stock has a market capitalization of $242.70 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 2.06 and a beta of 0.66. The firm’s fifty day moving average is $58.54 and its 200-day moving average is $66.99. 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 (NYSE:NVO) last issued 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 firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.84 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 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%.

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.