BMO Capital Markets Lowers Novo Nordisk A/S (NYSE:NVO) Price Target to $156.00

Novo Nordisk A/S (NYSE:NVO) had its price objective reduced by equities research analysts at BMO Capital Markets from $160.00 to $156.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 32.06% from the stock’s current price.

Several other research analysts have also issued reports on NVO. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, October 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $118.13 on Thursday. The firm has a market cap of $530.11 billion, a P/E ratio of 40.46, a price-to-earnings-growth ratio of 1.56 and a beta of 0.42. The firm’s 50-day simple moving average is $128.48 and its 200-day simple moving average is $131.65. Novo Nordisk A/S has a twelve month low of $92.94 and a twelve month high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. As a group, research analysts expect that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. Gilliland Jeter Wealth Management LLC increased its stake in shares of Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S during the second quarter worth $25,000. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S during the first quarter valued at $25,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in Novo Nordisk A/S in the first quarter valued at about $26,000. Institutional investors and hedge funds 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.