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

StockNews.com upgraded shares of Novo Nordisk A/S (NYSE:NVO) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

NVO has been the topic of a number of other reports. BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Buy” and an average price target of $140.20.

Novo Nordisk A/S Stock Up 4.4 %

Shares of NYSE:NVO opened at $88.71 on Friday. Novo Nordisk A/S has a 52-week low of $81.50 and a 52-week high of $148.15. The stock has a market cap of $398.09 billion, a P/E ratio of 28.71, a PEG ratio of 1.37 and a beta of 0.40. The business has a fifty day moving average of $109.01 and a two-hundred day moving average of $124.95. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new position in Novo Nordisk A/S in the 2nd quarter valued at about $200,000. Independence Bank of Kentucky grew its holdings in shares of Novo Nordisk A/S by 67.0% in the second quarter. Independence Bank of Kentucky now owns 3,925 shares of the company’s stock valued at $560,000 after purchasing an additional 1,575 shares in the last quarter. AMG National Trust Bank increased its stake in Novo Nordisk A/S by 61.5% during the 2nd quarter. AMG National Trust Bank now owns 10,275 shares of the company’s stock worth $1,467,000 after buying an additional 3,911 shares during the period. Hills Bank & Trust Co acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $133,000. Finally, Bank of New York Mellon Corp increased its position in shares of Novo Nordisk A/S by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 808,567 shares of the company’s stock worth $115,415,000 after acquiring an additional 13,824 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

About Novo Nordisk A/S

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.