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

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 report issued on Friday.

A number of other equities analysts also recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Stock Up 0.0 %

Novo Nordisk A/S stock traded up $0.01 during mid-day trading on Friday, reaching $111.96. The stock had a trading volume of 4,553,675 shares, compared to its average volume of 4,364,513. 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 has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. The stock’s 50-day simple moving average is $124.25 and its 200-day simple moving average is $130.85. The firm has a market capitalization of $502.42 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced 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). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

A number of large investors have recently added to or reduced their stakes in the stock. GQG Partners LLC increased its stake in shares of 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 worth $466,485,000 after purchasing an additional 3,151,584 shares during the last quarter. International Assets Investment Management LLC increased its position in Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after buying an additional 1,796,635 shares during the last quarter. DSM Capital Partners LLC raised its stake in shares of Novo Nordisk A/S by 257,816.0% in 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. Acadian Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 1,300.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after buying an additional 1,155,313 shares during the last quarter. Finally, Mediolanum International Funds Ltd purchased a new stake in Novo Nordisk A/S in the 3rd quarter worth about $98,765,000. Hedge funds and other 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.