Shares of Novo Nordisk A/S (NYSE:NVO) have been given an average recommendation of “Hold” by the nine ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $64.00.
A number of equities analysts recently issued reports on the stock. Morgan Stanley raised shares of Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research report on Friday, December 1st. Deutsche Bank reaffirmed a “buy” rating on shares of Novo Nordisk A/S in a research report on Monday, January 8th. Zacks Investment Research raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Friday, January 26th. JPMorgan Chase & Co. raised shares of Novo Nordisk A/S from an “underweight” rating to a “neutral” rating in a research report on Friday, December 29th. Finally, Bank of America raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 6th.
Novo Nordisk A/S (NYSE:NVO) traded down $0.01 during trading hours on Wednesday, hitting $50.43. 1,084,094 shares of the stock were exchanged, compared to its average volume of 1,541,827. Novo Nordisk A/S has a 12 month low of $33.10 and a 12 month high of $58.37. The company has a market capitalization of $123,251.55, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 3.29 and a beta of 0.60.
Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.04). Novo Nordisk A/S had a net margin of 34.09% and a return on equity of 82.72%. The firm had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.27 billion. analysts expect that Novo Nordisk A/S will post 2.63 earnings per share for the current fiscal year.
Novo Nordisk A/S declared that its Board of Directors has initiated a share buyback program on Thursday, February 1st that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a special dividend, which will be paid on Tuesday, April 3rd. Investors of record on Monday, March 26th will be given a dividend of $0.8117 per share. This represents a yield of 0.96%. The ex-dividend date of this dividend is Friday, March 23rd. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 35.34%.
Hedge funds have recently made changes to their positions in the stock. Stevens Capital Management LP bought a new stake in Novo Nordisk A/S in the 3rd quarter valued at $224,000. Bessemer Group Inc. increased its holdings in Novo Nordisk A/S by 10.8% in the 3rd quarter. Bessemer Group Inc. now owns 36,988 shares of the company’s stock valued at $1,781,000 after buying an additional 3,600 shares during the period. Sei Investments Co. increased its holdings in Novo Nordisk A/S by 7.9% in the 3rd quarter. Sei Investments Co. now owns 18,509 shares of the company’s stock valued at $891,000 after buying an additional 1,358 shares during the period. BTC Capital Management Inc. increased its holdings in Novo Nordisk A/S by 69.9% in the 3rd quarter. BTC Capital Management Inc. now owns 8,730 shares of the company’s stock valued at $420,000 after buying an additional 3,592 shares during the period. Finally, CI Investments Inc. bought a new stake in Novo Nordisk A/S in the 3rd quarter valued at $14,511,000. 6.71% of the stock is currently owned by institutional investors and hedge funds.
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Novo Nordisk A/S Company Profile
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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