Novo Nordisk A/S (NYSE:NVO) has been given a consensus recommendation of “Hold” by the nine analysts that are currently covering the firm, MarketBeat reports. One equities 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 1 year price target among brokers that have updated their coverage on the stock in the last year is $64.00.
A number of research firms have recently issued reports on NVO. Morgan Stanley raised Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a report on Friday, December 1st. Zacks Investment Research lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Deutsche Bank reissued a “buy” rating on shares of Novo Nordisk A/S in a report on Monday, January 8th. Bank of America raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Wednesday, December 6th. Finally, JPMorgan Chase & Co. raised Novo Nordisk A/S from an “underweight” rating to a “neutral” rating in a report on Friday, December 29th.
Hedge funds have recently made changes to their positions in the stock. Cetera Advisor Networks LLC grew its holdings in Novo Nordisk A/S by 21.7% during the third quarter. Cetera Advisor Networks LLC now owns 12,082 shares of the company’s stock worth $583,000 after acquiring an additional 2,151 shares during the period. Flow Traders U.S. LLC grew its holdings in Novo Nordisk A/S by 183.5% during the third quarter. Flow Traders U.S. LLC now owns 15,416 shares of the company’s stock worth $742,000 after acquiring an additional 9,979 shares during the period. Foyston Gordon & Payne Inc grew its holdings in Novo Nordisk A/S by 49.7% during the third quarter. Foyston Gordon & Payne Inc now owns 171,472 shares of the company’s stock worth $8,256,000 after acquiring an additional 56,941 shares during the period. TRUE Private Wealth Advisors acquired a new position in Novo Nordisk A/S during the fourth quarter worth $327,000. Finally, Hansberger Growth Investors LP grew its holdings in Novo Nordisk A/S by 3.2% during the fourth quarter. Hansberger Growth Investors LP now owns 46,099 shares of the company’s stock worth $2,474,000 after acquiring an additional 1,425 shares during the period. 6.71% of the stock is currently owned by hedge funds and other institutional investors.
Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.04). The firm had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.27 billion. Novo Nordisk A/S had a net margin of 34.09% and a return on equity of 82.72%. 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 authorized a share buyback program on Thursday, February 1st that allows the company to buyback outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a special dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Monday, March 26th will be issued a $0.8117 dividend. This represents a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, March 23rd. Novo Nordisk A/S’s payout ratio is currently 35.34%.
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About Novo Nordisk A/S
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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