Novo Nordisk A/S (NVO) Given Average Rating of “Buy” by Brokerages
Novo Nordisk A/S (NYSE:NVO) has received a consensus recommendation of “Buy” from the fourteen research firms that are currently covering the stock. Seven analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $60.50.
NVO has been the subject of a number of recent research reports. Goldman Sachs Group Inc. downgraded shares of Novo Nordisk A/S from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, June 28th. Zacks Investment Research downgraded shares of Novo Nordisk A/S from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Citigroup Inc. reiterated a “buy” rating on shares of Novo Nordisk A/S in a research note on Wednesday, August 3rd. Bank of America Corp. downgraded shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Monday, August 8th. Finally, HSBC upgraded shares of Novo Nordisk A/S from a “reduce” rating to a “hold” rating in a research note on Wednesday, August 31st.
Large investors have recently modified their holdings of the company. Royal Bank of Canada increased its stake 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 valued at $44,221,000 after buying an additional 7,249 shares during the period. Princeton Alpha Management LP acquired a new position in shares of Novo Nordisk A/S during the second quarter valued at approximately $407,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $346,000. Advisory Services Network LLC boosted its position in shares of 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 boosted its position in shares of 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. Hedge funds and other institutional investors own 7.54% of the company’s stock.
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Novo Nordisk A/S (NYSE:NVO) traded up 0.68% during trading on Thursday, hitting $39.85. The stock had a trading volume of 3,959,256 shares. The stock has a 50 day moving average price of $44.42 and a 200 day moving average price of $51.60. Novo Nordisk A/S has a 12-month low of $39.03 and a 12-month high of $59.00. The company has a market capitalization of $101.07 billion, a price-to-earnings ratio of 18.84 and a beta of 0.73.
About Novo Nordisk A/S
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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