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

Novo Nordisk A/S (NYSE:NVO) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts also recently commented on the stock. Morgan Stanley raised shares of Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $40.00 target price on the stock in a research note on Tuesday, March 3rd. Nordea Equity Research raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Friday. Sanford C. Bernstein initiated coverage on shares of Novo Nordisk A/S in a report on Wednesday, March 18th. They set an “outperform” rating and a $175.00 price target for the company. TD Cowen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $42.00 price objective on the stock. in a report on Tuesday, March 10th. Finally, Deutsche Bank Aktiengesellschaft lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $65.56.

Novo Nordisk A/S Stock Up 0.0%

Shares of NVO opened at $43.20 on Friday. Novo Nordisk A/S has a 52-week low of $35.12 and a 52-week high of $74.38. The company has a market capitalization of $192.89 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 3.86 and a beta of 0.78. The stock has a fifty day simple moving average of $42.92 and a two-hundred day simple moving average of $45.85. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59.

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

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently modified their holdings of the company. Capital International Investors boosted its holdings in Novo Nordisk A/S by 52.4% during the 3rd quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock valued at $982,969,000 after acquiring an additional 6,092,192 shares during the period. Loomis Sayles & Co. L P increased its stake in Novo Nordisk A/S by 6.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 17,135,384 shares of the company’s stock worth $871,848,000 after purchasing an additional 969,916 shares during the period. Franklin Resources Inc. lifted its position in shares of Novo Nordisk A/S by 5.1% during the fourth quarter. Franklin Resources Inc. now owns 14,702,508 shares of the company’s stock worth $748,064,000 after purchasing an additional 717,719 shares in the last quarter. Morgan Stanley boosted its stake in shares of Novo Nordisk A/S by 3.5% in the fourth quarter. Morgan Stanley now owns 12,842,089 shares of the company’s stock valued at $653,406,000 after purchasing an additional 428,660 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Novo Nordisk A/S by 99.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock valued at $492,940,000 after purchasing an additional 4,836,285 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

About Novo Nordisk A/S

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.