FY2024 Earnings Forecast for Novo Nordisk A/S (NYSE:NVO) Issued By Cantor Fitzgerald

Novo Nordisk A/S (NYSE:NVO) – Analysts at Cantor Fitzgerald reduced their FY2024 EPS estimates for Novo Nordisk A/S in a note issued to investors on Friday, May 3rd. Cantor Fitzgerald analyst L. Chen now anticipates that the company will post earnings of $3.20 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 $3.32 per share.

A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target on the stock. BMO Capital Markets initiated coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price target for the company. Finally, UBS Group began coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 16th. They set 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.60.

Novo Nordisk A/S Stock Performance

NVO opened at $123.05 on Monday. The firm has a market capitalization of $552.19 billion, a PE ratio of 42.43, a PEG ratio of 2.06 and a beta of 0.43. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $138.28. The firm’s 50-day moving average price is $127.20 and its 200 day moving average price is $113.10. 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

Several institutional investors have recently added to or reduced their stakes in the business. Xponance Inc. acquired a new stake in Novo Nordisk A/S in the third quarter worth about $248,000. Stratos Wealth Advisors LLC acquired a new stake in Novo Nordisk A/S in the third quarter worth about $237,000. Bank of New York Mellon Corp raised its position in Novo Nordisk A/S by 97.1% in the third quarter. Bank of New York Mellon Corp now owns 863,598 shares of the company’s stock worth $78,536,000 after acquiring an additional 425,392 shares in the last quarter. Brown Advisory Inc. raised its position in Novo Nordisk A/S by 96.0% in the third quarter. Brown Advisory Inc. now owns 107,860 shares of the company’s stock worth $9,809,000 after acquiring an additional 52,830 shares in the last quarter. Finally, Miracle Mile Advisors LLC raised its position in Novo Nordisk A/S by 100.0% in the third quarter. Miracle Mile Advisors LLC now owns 3,346 shares of the company’s stock worth $304,000 after acquiring an additional 1,673 shares in the last quarter. Institutional investors 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.