Novo Nordisk A/S (NYSE:NVO) Downgraded by StockNews.com to Buy

Novo Nordisk A/S (NYSE:NVO) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.

Other equities analysts have also issued reports about the stock. BMO Capital Markets cut their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, September 16th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $117.20 on Wednesday. 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 stock has a market cap of $525.92 billion, a price-to-earnings ratio of 40.41, a PEG ratio of 1.35 and a beta of 0.42. The company has a 50 day simple moving average of $130.39 and a two-hundred day simple moving average of $132.35. Novo Nordisk A/S has a 12 month low of $90.50 and a 12 month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results 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 net margin of 34.86% and a return on equity of 87.43%. As a group, analysts predict that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Daymark Wealth Partners LLC grew its holdings in shares of Novo Nordisk A/S by 1.8% during the third quarter. Daymark Wealth Partners LLC now owns 6,402 shares of the company’s stock worth $762,000 after buying an additional 112 shares in the last quarter. Barlow Wealth Partners Inc. purchased a new stake in Novo Nordisk A/S during the 3rd quarter valued at about $8,439,000. True North Advisors LLC raised its holdings in Novo Nordisk A/S by 4.6% in the 3rd quarter. True North Advisors LLC now owns 5,080 shares of the company’s stock valued at $605,000 after acquiring an additional 225 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Novo Nordisk A/S in the 3rd quarter worth approximately $119,000. Finally, Gratus Wealth Advisors LLC boosted its holdings in shares of Novo Nordisk A/S by 69.0% during the 3rd quarter. Gratus Wealth Advisors LLC now owns 3,693 shares of the company’s stock worth $435,000 after purchasing an additional 1,508 shares during the last quarter. 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.