Novo Nordisk A/S (NVO) Lifted to Buy at Bank of America
Novo Nordisk A/S (NYSE:NVO) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Wednesday, MarketBeat Ratings reports.
NVO has been the subject of several other reports. Zacks Investment Research lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. BNP Paribas lowered Novo Nordisk A/S from an “outperform” rating to a “neutral” rating in a research report on Monday, September 25th. Morgan Stanley raised Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research report on Friday, December 1st. Finally, BidaskClub raised Novo Nordisk A/S from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $55.00.
Novo Nordisk A/S (NVO) traded up $1.37 during midday trading on Wednesday, reaching $52.07. The company had a trading volume of 2,149,087 shares, compared to its average volume of 2,098,419. The stock has a market cap of $130,152.00, a price-to-earnings ratio of 22.29, a P/E/G ratio of 3.05 and a beta of 0.63. Novo Nordisk A/S has a twelve month low of $32.83 and a twelve month high of $52.45.
Institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC grew its stake in shares of Novo Nordisk A/S by 6.1% during the 2nd quarter. Proficio Capital Partners LLC now owns 2,622 shares of the company’s stock worth $111,000 after acquiring an additional 150 shares during the period. AlphaMark Advisors LLC grew its stake in shares of Novo Nordisk A/S by 1.1% during the 2nd quarter. AlphaMark Advisors LLC now owns 2,645 shares of the company’s stock worth $113,000 after acquiring an additional 30 shares during the period. MUFG Americas Holdings Corp grew its stake in shares of Novo Nordisk A/S by 100.0% during the 2nd quarter. MUFG Americas Holdings Corp now owns 3,000 shares of the company’s stock worth $129,000 after acquiring an additional 1,500 shares during the period. Zions Bancorporation grew its stake in shares of Novo Nordisk A/S by 677.1% during the 3rd quarter. Zions Bancorporation now owns 2,852 shares of the company’s stock worth $137,000 after acquiring an additional 2,485 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of Novo Nordisk A/S by 44.4% during the 2nd quarter. Parallel Advisors LLC now owns 4,108 shares of the company’s stock worth $174,000 after acquiring an additional 1,264 shares during the period. 6.18% of the stock is owned by hedge funds and other institutional investors.
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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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