Novo Nordisk A/S (NYSE:NVO) Receives Average Rating of “Buy” from Analysts

Shares of Novo Nordisk A/S (NYSE:NVO) have received an average rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $150.40.

A number of research firms have recently commented on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $106.96 on Friday. The stock has a fifty day moving average price of $110.75 and a 200 day moving average price of $126.48. Novo Nordisk A/S has a 52 week low of $96.53 and a 52 week high of $148.15. The firm has a market capitalization of $479.99 billion, a P/E ratio of 34.61, a PEG ratio of 1.43 and a beta of 0.40. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors have recently bought and sold shares of NVO. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S in the second quarter worth about $25,000. Gilliland Jeter Wealth Management LLC grew its stake in shares of Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at about $28,000. Finally, Abound Wealth Management raised its holdings in shares of Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after buying an additional 157 shares during the period. 11.54% of the stock is currently owned by hedge funds and other 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.