Novo Nordisk A/S (NYSE:NVO) Receives $145.17 Consensus Target Price from Brokerages

Shares of Novo Nordisk A/S (NYSE:NVO) have received an average recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $145.17.

Several brokerages have recently weighed in on NVO. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, August 5th. Argus raised their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $133.53 on Friday. The firm’s 50 day moving average is $137.29 and its 200 day moving average is $130.46. The stock has a market capitalization of $599.22 billion, a P/E ratio of 46.04, a PEG ratio of 1.33 and a beta of 0.41. Novo Nordisk A/S has a 12 month low of $86.96 and a 12 month high of $148.15. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 16th will be given a $0.5126 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 25.52%.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Advisor OS LLC lifted its position in Novo Nordisk A/S by 0.6% during the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after acquiring an additional 82 shares during the period. Cascade Financial Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 2.3% during the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after purchasing an additional 84 shares during the last quarter. Cravens & Co Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 1.0% during the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock valued at $1,059,000 after purchasing an additional 85 shares during the last quarter. AA Financial Advisors LLC grew its stake in shares of Novo Nordisk A/S by 3.2% in the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after buying an additional 86 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in Novo Nordisk A/S by 2.6% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,455 shares of the company’s stock valued at $493,000 after buying an additional 87 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

About Novo Nordisk A/S

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.