FY2024 EPS Estimates for Novo Nordisk A/S Cut by Cantor Fitzgerald (NYSE:NVO)

Novo Nordisk A/S (NYSE:NVO) – Research analysts at Cantor Fitzgerald cut their FY2024 earnings estimates for Novo Nordisk A/S in a research report issued to clients and investors on Wednesday, March 27th. Cantor Fitzgerald analyst L. Chen now anticipates that the company will earn $3.21 per share for the year, down from their previous estimate of $3.23. Cantor Fitzgerald currently has a “Overweight” rating and a $160.00 target price on the stock. The consensus estimate for Novo Nordisk A/S’s current full-year earnings is $3.35 per share.

A number of other analysts also recently commented on the stock. UBS Group started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating on the stock. Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 target price for the company. Finally, TD Cowen lifted their price target on Novo Nordisk A/S from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, December 4th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.25.

Novo Nordisk A/S Stock Up 0.3 %

NVO opened at $128.40 on Friday. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28. The stock’s 50 day moving average price is $121.76 and its 200 day moving average price is $104.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. The stock has a market cap of $576.20 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.11 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. The firm had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%.

Novo Nordisk A/S Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th will be issued a dividend of $0.664 per share. This represents a yield of 0.9%. The ex-dividend date of this dividend is Friday, March 22nd. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. Novo Nordisk A/S’s dividend payout ratio (DPR) is 49.17%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Pacific Center for Financial Services raised its position in shares of Novo Nordisk A/S by 100.0% during the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Copeland Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Copeland Capital Management LLC now owns 282 shares of the company’s stock worth $26,000 after acquiring an additional 141 shares during the period. Bell Investment Advisors Inc grew its holdings in shares of Novo Nordisk A/S by 79.9% during the 3rd quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. CNB Bank bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $26,000. Finally, Citizens National Bank Trust Department raised its stake in shares of Novo Nordisk A/S by 100.0% in the third quarter. Citizens National Bank Trust Department now owns 300 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds 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.