Cantor Fitzgerald Reaffirms Overweight Rating for Novo Nordisk A/S (NYSE:NVO)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Novo Nordisk A/S (NYSE:NVO) in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a $160.00 target price on the stock.

Several other equities analysts have also issued reports on the company. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a buy rating and a $156.00 price target for the company. BMO Capital Markets decreased their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an outperform rating for the company in a report on Thursday, August 8th. StockNews.com cut shares of Novo Nordisk A/S from a strong-buy rating to a buy rating in a report on Monday, August 19th. Finally, Argus boosted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a buy rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $145.17.

Novo Nordisk A/S Trading Up 4.2 %

NYSE:NVO opened at $135.17 on Monday. Novo Nordisk A/S has a one year low of $86.96 and a one year high of $148.15. The company’s 50-day simple moving average is $134.18 and its 200 day simple moving average is $132.75. The firm has a market capitalization of $606.58 billion, a P/E ratio of 46.61, a PEG ratio of 1.43 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were given a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Hedge Funds Weigh In On Novo Nordisk A/S

Hedge funds and other institutional investors have recently modified their holdings of the company. Aveo Capital Partners LLC bought a new position in Novo Nordisk A/S in the fourth quarter valued at about $205,000. 9258 Wealth Management LLC boosted its holdings in shares of Novo Nordisk A/S by 4.0% in the fourth quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock worth $260,000 after buying an additional 97 shares during the last quarter. Rollins Financial grew its position in Novo Nordisk A/S by 10.4% during the fourth quarter. Rollins Financial now owns 3,894 shares of the company’s stock valued at $403,000 after buying an additional 368 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after buying an additional 26,067 shares during the last quarter. Finally, Gryphon Financial Partners LLC bought a new position in Novo Nordisk A/S in the fourth quarter worth approximately $237,000. 11.54% of the stock is 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.