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

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

Several other equities research analysts have also recently issued reports on NVO. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday. Argus raised their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, BMO Capital Markets decreased their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Trading Up 0.1 %

Shares of NVO stock traded up $0.09 on Wednesday, reaching $132.09. 2,853,764 shares of the company’s stock were exchanged, compared to its average volume of 4,245,523. The company’s fifty day simple moving average is $133.52 and its 200 day simple moving average is $133.19. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. 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 capitalization of $592.76 billion, a PE ratio of 45.55, a P/E/G ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released 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 business had revenue of $9.82 billion for the quarter, compared to the consensus estimate 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, analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Folketrygdfondet grew its stake in Novo Nordisk A/S by 1.4% in the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after purchasing an additional 124,770 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after buying an additional 823,036 shares during the last quarter. Capital International Investors raised its stake in shares of Novo Nordisk A/S by 22.3% during the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after acquiring an additional 1,297,536 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Novo Nordisk A/S by 1.4% during the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after acquiring an additional 58,935 shares during the last quarter. Finally, GQG Partners LLC lifted its position in Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

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.