StockNews.com Upgrades Novo Nordisk A/S (NYSE:NVO) to “Strong-Buy”

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

NVO has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. BMO Capital Markets cut 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 note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Down 0.0 %

Novo Nordisk A/S stock opened at $111.94 on Friday. The business’s 50-day moving average price is $124.25 and its 200 day moving average price is $130.90. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market cap of $502.33 billion, a price-to-earnings ratio of 38.34, a price-to-earnings-growth ratio of 1.46 and a beta of 0.43. 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 issued its quarterly earnings data 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 return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Novo Nordisk A/S by 12.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 313,291 shares of the company’s stock valued at $40,227,000 after acquiring an additional 33,463 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Novo Nordisk A/S by 29.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 244,301 shares of the company’s stock valued at $31,368,000 after purchasing an additional 56,060 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Novo Nordisk A/S by 8.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 331,751 shares of the company’s stock worth $42,597,000 after purchasing an additional 26,573 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of Novo Nordisk A/S by 89.7% during the first quarter. Resonant Capital Advisors LLC now owns 5,905 shares of the company’s stock worth $764,000 after buying an additional 2,793 shares in the last quarter. Finally, Choreo LLC raised its position in shares of Novo Nordisk A/S by 16.7% in the first quarter. Choreo LLC now owns 3,627 shares of the company’s stock valued at $466,000 after buying an additional 519 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.