FY2024 EPS Estimate for Novo Nordisk A/S Reduced by Analyst

Novo Nordisk A/S (NYSE:NVO) – Cantor Fitzgerald lowered their FY2024 earnings estimates for Novo Nordisk A/S in a report issued on Tuesday, January 21st. Cantor Fitzgerald analyst L. Chen now forecasts that the company will earn $3.10 per share for the year, down from their previous estimate of $3.21. 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 $3.17 per share. Cantor Fitzgerald also issued estimates for Novo Nordisk A/S’s FY2025 earnings at $3.44 EPS.

A number of other analysts have also weighed in on the company. BMO Capital Markets cut their price objective on 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. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Buy” and an average price target of $140.20.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $80.59 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a fifty-two week low of $78.17 and a fifty-two week high of $148.15. The company has a market cap of $361.65 billion, a P/E ratio of 26.08, a PEG ratio of 0.89 and a beta of 0.45. The firm’s 50 day moving average price is $96.10 and its 200 day moving average price is $115.79.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Novare Capital Management LLC boosted its holdings 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 buying an additional 85 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Novo Nordisk A/S by 2.5% during the third quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock worth $454,000 after purchasing an additional 94 shares during the last quarter. Burns J W & Co. Inc. NY grew its holdings in shares of Novo Nordisk A/S by 1.9% during the third quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock worth $647,000 after purchasing an additional 100 shares during the last quarter. Spinnaker Trust increased its position 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 worth $1,145,000 after purchasing an additional 100 shares in the last quarter. Finally, Marco Investment Management LLC lifted its holdings 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 purchasing an additional 100 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

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.