Novo Nordisk A/S (NYSE:NVO) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Novo Nordisk A/S (NYSE:NVO) in a report published on Wednesday,Benzinga reports. The brokerage currently has a $160.00 price target on the stock.

Several other research firms have also commented on NVO. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Price Performance

NYSE:NVO traded up $1.09 during trading hours on Wednesday, hitting $106.45. 3,205,534 shares of the stock were exchanged, compared to its average volume of 4,413,824. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average price is $122.65 and its 200 day moving average price is $130.59. The company has a market cap of $477.70 billion, a P/E ratio of 36.47, a P/E/G ratio of 1.43 and a beta of 0.42. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15.

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

Hedge Funds Weigh In On Novo Nordisk A/S

A number of institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in Novo Nordisk A/S by 14.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock worth $34,463,000 after purchasing an additional 37,346 shares during the last quarter. Private Wealth Partners LLC increased its stake in Novo Nordisk A/S by 155.1% in the 3rd quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after buying an additional 20,188 shares during the period. Independence Bank of Kentucky increased its stake in Novo Nordisk A/S by 192.7% in the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock valued at $1,368,000 after buying an additional 7,565 shares during the period. Traynor Capital Management Inc. increased its stake in shares of Novo Nordisk A/S by 3.4% during the 3rd quarter. Traynor Capital Management Inc. now owns 305,404 shares of the company’s stock worth $36,364,000 after purchasing an additional 10,019 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Novo Nordisk A/S by 453.3% during the 1st quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock worth $34,095,000 after purchasing an additional 217,545 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

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.