Novo Nordisk A/S’s (NVO) Market Perform Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets restated their market perform rating on shares of Novo Nordisk A/S (NYSE:NVO) in a report issued on Thursday, Marketbeat.com reports. The brokerage currently has a $64.00 price target on the stock, down from their prior price target of $105.00.

Several other brokerages also recently weighed in on NVO. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Stifel Nicolaus lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $135.00.

Novo Nordisk A/S Stock Down 7.8 %

NYSE:NVO opened at $57.99 on Thursday. Novo Nordisk A/S has a 1-year low of $57.28 and a 1-year high of $148.15. The company has a market capitalization of $260.23 billion, a PE ratio of 17.63, a P/E/G ratio of 0.90 and a beta of 0.61. The firm’s 50-day moving average price is $76.03 and its 200-day moving average price is $92.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, April 8th. Investors of record on Monday, March 31st were given a $0.7874 dividend. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, March 31st. Novo Nordisk A/S’s payout ratio is currently 49.54%.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors have recently added to or reduced their stakes in the company. Inscription Capital LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $335,000. JLB & Associates Inc. raised its position in shares of Novo Nordisk A/S by 2.3% during the 1st quarter. JLB & Associates Inc. now owns 219,239 shares of the company’s stock valued at $15,224,000 after buying an additional 4,874 shares in the last quarter. Grimes & Company Inc. lifted its holdings in shares of Novo Nordisk A/S by 3.2% in the 1st quarter. Grimes & Company Inc. now owns 106,953 shares of the company’s stock valued at $7,427,000 after acquiring an additional 3,273 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Novo Nordisk A/S in the first quarter worth about $623,000. Finally, Brown Miller Wealth Management LLC increased its stake in Novo Nordisk A/S by 38.7% during the first quarter. Brown Miller Wealth Management LLC now owns 11,394 shares of the company’s stock worth $791,000 after acquiring an additional 3,178 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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.