Novo Nordisk A/S (NYSE:NVO) Given Outperform Rating at BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of Novo Nordisk A/S (NYSE:NVO) in a research report released on Tuesday, Benzinga reports. They currently have a $163.00 price target on the stock.

Several other analysts have also issued reports on NVO. Argus upped their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a buy rating in a research note on Monday, June 10th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a buy rating and a $156.00 target price on the stock. Finally, Cantor Fitzgerald restated an overweight rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $145.67.

Novo Nordisk A/S Stock Up 3.2 %

Shares of NYSE NVO opened at $146.90 on Tuesday. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $148.15. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $659.22 billion, a price-to-earnings ratio of 50.66, a PEG ratio of 1.41 and a beta of 0.41. The business has a 50-day moving average of $133.78 and a 200-day moving average of $122.73.

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

Institutional Trading of Novo Nordisk A/S

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVO. Pacific Center for Financial Services lifted its stake in Novo Nordisk A/S by 100.0% in the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. First PREMIER Bank purchased a new position in Novo Nordisk A/S during the first quarter valued at $25,000. CNB Bank purchased a new position in Novo Nordisk A/S during the fourth quarter valued at $26,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Novo Nordisk A/S during the first quarter valued at $26,000. Finally, Orion Capital Management LLC purchased a new position in Novo Nordisk A/S during the first quarter valued at $26,000. 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.