Novo Nordisk A/S (NVO) Rating Increased to Neutral at Bank of America Corporation
Novo Nordisk A/S (NYSE:NVO) was upgraded by research analysts at Bank of America Corporation from an “underperform” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat.com reports.
A number of other equities analysts have also recently issued reports on the company. BidaskClub upgraded Novo Nordisk A/S from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Zacks Investment Research cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $53.00.
Novo Nordisk A/S (NYSE NVO) traded down 1.09% during mid-day trading on Wednesday, reaching $47.97. The company had a trading volume of 1,019,724 shares. The firm’s 50-day moving average price is $44.69 and its 200-day moving average price is $40.39. The stock has a market cap of $118.98 billion, a PE ratio of 19.78 and a beta of 0.60. Novo Nordisk A/S has a 12 month low of $30.89 and a 12 month high of $48.56.
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Several institutional investors have recently bought and sold shares of the company. Intl Fcstone Inc. acquired a new position in shares of Novo Nordisk A/S during the 2nd quarter worth about $475,000. Kimelman & Baird LLC acquired a new position in shares of Novo Nordisk A/S during the 2nd quarter worth about $214,000. Toronto Dominion Bank boosted its stake in shares of Novo Nordisk A/S by 37.6% during the 2nd quarter. Toronto Dominion Bank now owns 18,718 shares of the company’s stock worth $804,000 after buying an additional 5,118 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Novo Nordisk A/S by 74.6% during the 2nd quarter. Advisory Services Network LLC now owns 6,461 shares of the company’s stock worth $277,000 after buying an additional 2,760 shares during the last quarter. Finally, Bangor Savings Bank acquired a new position in shares of Novo Nordisk A/S during the 2nd quarter worth about $245,000. Institutional investors own 6.01% of the company’s stock.
About Novo Nordisk A/S
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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