FY2024 Earnings Estimate for NVO Issued By Cantor Fitzgerald

Novo Nordisk A/S (NYSE:NVO) – Equities researchers at Cantor Fitzgerald dropped their FY2024 earnings estimates for shares of Novo Nordisk A/S in a note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst L. Chen now anticipates that the company will post earnings per share of $3.10 for the year, down from their previous estimate of $3.21. Cantor Fitzgerald has a “Overweight” rating and a $160.00 price objective 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.

Other research analysts also recently issued reports about the company. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Sanford C. Bernstein raised 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 shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Price Performance

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its stake in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after acquiring an additional 36,223 shares in the last quarter. Natixis Advisors LLC raised its holdings in Novo Nordisk A/S by 2.7% during the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after purchasing an additional 80,070 shares during the last quarter. International Assets Investment Management LLC boosted its position in Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after purchasing an additional 1,796,635 shares in the last quarter. DSM Capital Partners LLC grew its holdings in Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after purchasing an additional 1,593,303 shares during the last quarter. Finally, LPL Financial LLC increased its position in shares of Novo Nordisk A/S by 3.6% in the third quarter. LPL Financial LLC now owns 1,362,782 shares of the company’s stock valued at $162,266,000 after buying an additional 47,496 shares in the last quarter. 11.54% of the stock is currently 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.