Novo Nordisk A/S (NYSE:NVO) Upgraded to Strong-Buy at StockNews.com

Novo Nordisk A/S (NYSE:NVO) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

Other analysts also recently issued reports about the stock. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. Finally, Argus raised their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Up 2.2 %

NVO opened at $134.90 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 1-year low of $86.96 and a 1-year high of $148.15. The company has a market capitalization of $605.37 billion, a PE ratio of 46.52, a PEG ratio of 1.48 and a beta of 0.42. The firm’s 50 day simple moving average is $133.43 and its two-hundred day simple moving average is $133.20.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GQG Partners LLC grew its holdings in Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after purchasing an additional 3,151,584 shares during the last quarter. DSM Capital Partners LLC boosted its position in shares of Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after buying an additional 1,593,303 shares during the period. Capital International Investors grew its stake in shares of Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after buying an additional 1,297,536 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after buying an additional 1,155,313 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Novo Nordisk A/S by 10.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares during the last quarter. 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.