Cantor Fitzgerald Analysts Reduce Earnings Estimates for NVO

Novo Nordisk A/S (NYSE:NVO) – Research analysts at Cantor Fitzgerald dropped their FY2024 EPS estimates for Novo Nordisk A/S in a research note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst L. Chen now anticipates that the company will post earnings of $3.10 per share for the year, down from their prior forecast of $3.21. 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 $3.13 per share. Cantor Fitzgerald also issued estimates for Novo Nordisk A/S’s FY2025 earnings at $3.44 EPS.

Other research analysts have also issued research reports about the stock. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Finally, BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Up 8.4 %

Novo Nordisk A/S stock opened at $87.94 on Thursday. Novo Nordisk A/S has a 52 week low of $78.17 and a 52 week high of $148.15. The stock has a market cap of $394.65 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 0.90 and a beta of 0.45. The company’s 50-day moving average price is $95.62 and its two-hundred day moving average price is $115.55. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of hedge funds have recently modified their holdings of the stock. Novare Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 3.2% in the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after purchasing an additional 85 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in shares of Novo Nordisk A/S by 2.5% in the third quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock worth $454,000 after buying an additional 94 shares during the period. Burns J W & Co. Inc. NY increased its position in shares of Novo Nordisk A/S by 1.9% in the third quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock worth $647,000 after acquiring an additional 100 shares in the last quarter. Spinnaker Trust raised its holdings in shares of Novo Nordisk A/S by 1.1% during the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock valued at $1,145,000 after acquiring an additional 100 shares during the period. Finally, Marco Investment Management LLC lifted its position in shares of Novo Nordisk A/S by 1.5% in the 3rd quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock valued at $798,000 after acquiring an additional 100 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.