Novo Nordisk A/S (NYSE:NVO) Given Average Rating of “Hold” by Brokerages

Novo Nordisk A/S (NYSE:NVO) has been assigned an average recommendation of “Hold” from the twenty-three ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eighteen have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $65.5625.

A number of research analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $40.00 price target for the company in a research note on Tuesday, March 3rd. Wall Street Zen upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Nordea Equity Research downgraded shares of Novo Nordisk A/S to a “hold” rating in a research note on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $41.00 price objective (down from $63.00) on shares of Novo Nordisk A/S in a research report on Monday, March 2nd.

Novo Nordisk A/S Stock Down 0.7%

Shares of Novo Nordisk A/S stock opened at $43.59 on Wednesday. Novo Nordisk A/S has a 52-week low of $35.12 and a 52-week high of $75.78. The company has a 50 day moving average of $42.55 and a 200 day moving average of $45.94. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $194.65 billion, a P/E ratio of 10.23, a P/E/G ratio of 3.92 and a beta of 0.78.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The company had revenue of $10.85 billion during the quarter. As a group, research analysts forecast that Novo Nordisk A/S will post 3.45 EPS for the current fiscal year.

Novo Nordisk A/S News Summary

Here are the key news stories impacting Novo Nordisk A/S this week:

• Positive Sentiment: Novo Nordisk said it plans to seek Chinese regulatory approval for its oral Wegovy pill, which could expand its obesity franchise into one of the world’s largest potential markets and strengthen the company’s long-term growth outlook. Reuters: Novo Nordisk to seek regulatory approval for Wegovy pill in China soon, says CEO
• Positive Sentiment: Reports that the company is moving closer to an oral Wegovy filing in China reinforce the view that Novo Nordisk is broadening its weight-loss pipeline beyond injectables, which could help it compete more effectively with Eli Lilly. Article: Novo Nordisk (CPSE:NOVO B) Prepares China Filing For Oral Wegovy Pill
• Neutral Sentiment: Several market-watch and Zacks items indicate that Novo Nordisk remains a heavily followed stock, but they do not add major new fundamental information beyond confirming investor interest and ongoing debate about the outlook. Article: Novo Nordisk A/S (NVO) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: A hacking group claimed it stole more than a terabyte of data from Novo Nordisk and attempted to extort $25 million, which raises cybersecurity and reputational concerns that could weigh on sentiment if the breach is confirmed or grows worse. Reuters: Hacking group claims major hack of Novo Nordisk and attempted $25 million extortion

Institutional Trading of Novo Nordisk A/S

Several institutional investors have recently modified their holdings of NVO. Godfrey Financial Associates Inc. purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth approximately $25,000. Scarborough Advisors LLC purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $26,000. WealthCollab LLC lifted its position in shares of Novo Nordisk A/S by 93.5% during the 4th quarter. WealthCollab LLC now owns 538 shares of the company’s stock worth $27,000 after buying an additional 260 shares during the last quarter. American National Bank & Trust purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth approximately $28,000. Finally, Maseco LLP purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.