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

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

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

Other research analysts have also recently issued research reports about the stock. TD Cowen raised their target price on shares of Novo Nordisk A/S from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, December 4th. Morgan Stanley assumed coverage on shares of 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, UBS Group assumed coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price of $126.25.

Novo Nordisk A/S Trading Up 0.3 %

Shares of Novo Nordisk A/S stock opened at $128.40 on Friday. The firm’s 50 day simple moving average is $121.76 and its two-hundred day simple moving average is $104.38. The firm has a market capitalization of $576.20 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 2.11 and a beta of 0.41. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $138.28. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19.

Institutional Trading of Novo Nordisk A/S

A number of large investors have recently made changes to their positions in NVO. Westside Investment Management Inc. raised its stake in Novo Nordisk A/S by 83.3% during the 3rd quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock worth $130,000 after acquiring an additional 649 shares in the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $2,408,000. Lazard Asset Management LLC increased its position in shares of Novo Nordisk A/S by 182.2% in the third quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company’s stock valued at $135,883,000 after buying an additional 964,640 shares in the last quarter. Benedict Financial Advisors Inc. lifted its holdings in shares of Novo Nordisk A/S by 94.0% in the third quarter. Benedict Financial Advisors Inc. now owns 44,292 shares of the company’s stock valued at $4,028,000 after purchasing an additional 21,457 shares in the last quarter. Finally, CENTRAL TRUST Co grew its holdings in Novo Nordisk A/S by 111.6% during the 3rd quarter. CENTRAL TRUST Co now owns 6,004 shares of the company’s stock valued at $546,000 after buying an additional 3,166 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Increases Dividend

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

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.