Novo Nordisk A/S (NYSE:NVO) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Novo Nordisk A/S (NYSE:NVOFree Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

A number of other equities research analysts also recently weighed in on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Guggenheim lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Hsbc Global Res upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, April 28th. Finally, Dbs Bank lowered Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Hold” and an average target price of $112.00.

Read Our Latest Analysis on Novo Nordisk A/S

Novo Nordisk A/S Stock Down 1.4%

Shares of Novo Nordisk A/S stock opened at $79.90 on Friday. The business has a 50-day moving average price of $67.30 and a 200 day moving average price of $79.63. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $148.15. The firm has a market cap of $358.57 billion, a P/E ratio of 24.29, a P/E/G ratio of 0.90 and a beta of 0.66. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The business had revenue of $11.87 billion during the quarter. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

Several hedge funds have recently added to or reduced their stakes in NVO. GQG Partners LLC lifted its holdings in Novo Nordisk A/S by 74.7% in the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company’s stock worth $1,117,790,000 after purchasing an additional 5,556,460 shares during the period. Nuveen LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth about $370,272,000. Raymond James Financial Inc. acquired a new stake in shares of Novo Nordisk A/S in the 4th quarter worth approximately $404,910,000. Loomis Sayles & Co. L P boosted its holdings in shares of Novo Nordisk A/S by 34.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock valued at $995,397,000 after acquiring an additional 2,947,771 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Novo Nordisk A/S by 73.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company’s stock valued at $537,189,000 after acquiring an additional 2,639,693 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Novo Nordisk A/S (NYSE:NVO)

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