Zacks Investment Research upgraded shares of Novo Nordisk A/S (NYSE:NVO) from a hold rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $55.00 target price on the stock.
According to Zacks, “Novo Nordisk’s second-quarter results topped earnings, but missed revenue estimates. The company has a strong pipeline, primarily focusing on therapeutic proteins within insulin, GLP-1, blood clotting factors and human growth hormone. The company has a strong presence in the Diabetes care market with a global value market share of 27%. The segment is driven by strong performance of drugs like Victoza, Tresiba, Saxenda and Xultophy among others. Novo Nordisk’s stock movement has outperformed the industry. However, we believe continued growth from Victoza and Tresiba as well as higher contributions from Saxenda and Xultophy will be partly offset by the impact of lower realized prices in the U.S., loss of exclusivity for products in hormone replacement therapy, intensifying competition within the diabetes and biopharmaceuticals markets and macroeconomic conditions in many markets under International Operations.”
Several other equities analysts also recently commented on NVO. BidaskClub upgraded Novo Nordisk A/S from a sell rating to a hold rating in a research report on Saturday, August 12th. Bank of America Corporation upgraded Novo Nordisk A/S from an underperform rating to a neutral rating in a research report on Wednesday, September 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Novo Nordisk A/S currently has a consensus rating of Hold and a consensus target price of $56.00.
Shares of Novo Nordisk A/S (NVO) opened at 48.19 on Wednesday. The company has a 50-day moving average price of $45.61 and a 200-day moving average price of $40.85. The firm has a market capitalization of $119.52 billion, a price-to-earnings ratio of 19.47 and a beta of 0.60. Novo Nordisk A/S has a 12 month low of $30.89 and a 12 month high of $48.88.
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The business also recently declared an annual dividend, which was paid on Tuesday, August 29th. Stockholders of record on Monday, August 21st were paid a $0.336 dividend. This is a boost from Novo Nordisk A/S’s previous annual dividend of $0.33. The ex-dividend date was Friday, August 18th. This represents a dividend yield of 1.07%. Novo Nordisk A/S’s dividend payout ratio is presently 36.44%.
Several hedge funds have recently modified their holdings of NVO. Proficio Capital Partners LLC increased its stake in shares of Novo Nordisk A/S by 155.6% in the first quarter. Proficio Capital Partners LLC now owns 2,472 shares of the company’s stock valued at $103,000 after buying an additional 1,505 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Novo Nordisk A/S by 167.8% in the first quarter. Tower Research Capital LLC TRC now owns 3,061 shares of the company’s stock valued at $105,000 after buying an additional 1,918 shares during the period. AlphaMark Advisors LLC increased its stake in shares of Novo Nordisk A/S by 1.1% in the second quarter. AlphaMark Advisors LLC now owns 2,645 shares of the company’s stock valued at $113,000 after buying an additional 30 shares during the period. Parallel Advisors LLC increased its stake in shares of Novo Nordisk A/S by 120.3% in the first quarter. Parallel Advisors LLC now owns 2,844 shares of the company’s stock valued at $117,000 after buying an additional 1,553 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of Novo Nordisk A/S by 3,609.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,709 shares of the company’s stock valued at $127,000 after buying an additional 3,609 shares during the period. 6.01% of the stock is owned by institutional investors.
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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