Novo Nordisk A/S (NYSE:NVO) Earns Hold Rating from Argus

Novo Nordisk A/S (NYSE:NVO)‘s stock had its “hold” rating restated by equities researchers at Argus in a report issued on Monday, MarketBeat Ratings reports.

Several other brokerages have also issued reports on NVO. Jefferies Financial Group assumed coverage on shares of Novo Nordisk A/S in a report on Monday, October 27th. They set an “underperform” rating on the stock. TD Cowen dropped their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Finally, BNP Paribas raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.00.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $46.32 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The stock’s fifty day moving average price is $51.42 and its 200-day moving average price is $58.69. The firm has a market cap of $206.82 billion, a P/E ratio of 13.47 and a beta of 0.67. Novo Nordisk A/S has a 12 month low of $43.08 and a 12 month high of $112.52.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.25. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. The company had revenue of $11.79 billion for the quarter, compared to analysts’ expectations of $11.98 billion. On average, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of large investors have recently modified their holdings of the business. Franklin Resources Inc. boosted its stake in Novo Nordisk A/S by 4,190.8% in the 3rd quarter. Franklin Resources Inc. now owns 13,984,789 shares of the company’s stock worth $776,016,000 after purchasing an additional 13,658,867 shares in the last quarter. Kingstone Capital Partners Texas LLC raised its holdings in shares of Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after buying an additional 10,001,898 shares during the last quarter. Capital International Investors lifted its stake in shares of Novo Nordisk A/S by 52.4% during the third quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock worth $982,969,000 after buying an additional 6,092,192 shares during the period. Boston Partners acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth $310,199,000. Finally, Nuveen LLC purchased a new stake in shares of Novo Nordisk A/S during the first quarter valued at $370,272,000. Hedge funds and other 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.