Cantor Fitzgerald Reiterates “Overweight” Rating for Novo Nordisk A/S (NYSE:NVO)

Novo Nordisk A/S (NYSE:NVO)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $160.00 price target on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 21.21% from the stock’s current price.

NVO has been the subject of several other reports. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Argus raised their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $132.00 on Monday. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week high of $148.15. The firm’s 50 day simple moving average is $133.74 and its 200-day simple moving average is $133.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The company has a market cap of $592.35 billion, a P/E ratio of 45.52, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share 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 analysts’ expectations 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 predict that Novo Nordisk A/S will post 3.11 EPS for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently modified their holdings of the business. Folketrygdfondet increased its holdings in shares of Novo Nordisk A/S by 1.4% during the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after acquiring an additional 124,770 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after purchasing an additional 823,036 shares during the period. Capital International Investors lifted its stake in shares of Novo Nordisk A/S by 22.3% in the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after buying an additional 1,297,536 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after buying an additional 58,935 shares during the period. Finally, GQG Partners LLC grew its stake in Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares during the last quarter. 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.