HSBC Reaffirms “Hold” Rating for Novo Nordisk A/S (NVO)
Novo Nordisk A/S (NYSE:NVO)‘s stock had its “hold” rating restated by equities researchers at HSBC in a note issued to investors on Thursday.
Several other brokerages have also recently weighed in on NVO. Deutsche Bank AG raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Monday, September 12th. Morgan Stanley lowered shares of Novo Nordisk A/S from an “overweight” rating to an “equal weight” rating in a research note on Thursday, September 1st. Bank of America Corp. lowered shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Monday, August 8th. Jefferies Group reiterated a “hold” rating on shares of Novo Nordisk A/S in a research note on Wednesday, September 14th. Finally, Goldman Sachs Group Inc. lowered shares of Novo Nordisk A/S from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, June 28th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.33.
Shares of Novo Nordisk A/S (NYSE:NVO) traded down 0.48% during trading on Thursday, hitting $39.39. The stock had a trading volume of 2,447,436 shares. The firm has a market cap of $99.90 billion, a PE ratio of 18.62 and a beta of 0.73. Novo Nordisk A/S has a 52-week low of $39.03 and a 52-week high of $59.00. The stock has a 50 day moving average of $44.42 and a 200 day moving average of $51.60.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of Novo Nordisk A/S by 0.9% in the first quarter. Royal Bank of Canada now owns 815,990 shares of the company’s stock worth $44,221,000 after buying an additional 7,249 shares during the last quarter. Princeton Alpha Management LP acquired a new position in Novo Nordisk A/S during the second quarter valued at $407,000. Schonfeld Strategic Advisors LLC acquired a new position in Novo Nordisk A/S during the first quarter valued at $346,000. Advisory Services Network LLC increased its position in Novo Nordisk A/S by 28.8% in the second quarter. Advisory Services Network LLC now owns 2,238 shares of the company’s stock valued at $120,000 after buying an additional 500 shares in the last quarter. Finally, Copeland Capital Management LLC increased its position in Novo Nordisk A/S by 3.2% in the second quarter. Copeland Capital Management LLC now owns 65,818 shares of the company’s stock valued at $3,540,000 after buying an additional 2,056 shares in the last quarter. Institutional investors and hedge funds own 7.54% of the company’s stock.
Novo Nordisk A/S Company Profile
Novo Nordisk A/S is a healthcare company. The Company is engaged in discovery, development, manufacturing and marketing of pharmaceutical products. The Company’s business segments include diabetes and obesity care, and biopharmaceuticals. The diabetes and obesity care segment covers insulins, glucagon-like peptide-1 (GLP-1), other protein-related products (such as glucagon, protein-related delivery systems and needles), oral anti-diabetic drugs and obesity.
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