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

Novo Nordisk A/S (NYSE:NVO)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $160.00 target price on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 13.64% from the stock’s previous close.

NVO has been the subject of several other research reports. Argus raised their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. Finally, BMO Capital Markets initiated coverage on shares of Novo Nordisk A/S in a report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Price Performance

NVO opened at $140.80 on Monday. The stock’s 50 day moving average price is $131.97 and its 200-day moving average price is $121.17. Novo Nordisk A/S has a 52-week low of $75.56 and a 52-week high of $144.50. The stock has a market capitalization of $631.84 billion, a PE ratio of 48.55, a price-to-earnings-growth ratio of 1.48 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The business had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.23 billion. On average, equities research analysts predict that Novo Nordisk A/S will post 3.41 EPS for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors have recently made changes to their positions in the company. First PREMIER Bank purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S during the first quarter valued at $26,000. Orion Capital Management LLC bought a new stake in Novo Nordisk A/S in the 1st quarter worth about $26,000. CNB Bank bought a new stake in Novo Nordisk A/S in the 4th quarter worth about $26,000. Finally, Pathway Financial Advisers LLC purchased a new position in Novo Nordisk A/S in the 1st quarter worth about $34,000. 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.