Novo Nordisk A/S (NYSE:NVO) Downgraded by StockNews.com to Buy

StockNews.com lowered shares of Novo Nordisk A/S (NYSE:NVO) from a strong-buy rating to a buy rating in a research note published on Sunday morning.

A number of other equities research analysts have also recently issued reports on the stock. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, BMO Capital Markets lowered their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $140.20.

Novo Nordisk A/S Stock Performance

NVO stock opened at $87.37 on Friday. The firm has a 50 day moving average of $105.94 and a two-hundred day moving average of $123.01. Novo Nordisk A/S has a 12 month low of $81.50 and a 12 month high of $148.15. The company has a market capitalization of $392.08 billion, a price-to-earnings ratio of 28.28, a P/E/G ratio of 1.37 and a beta of 0.40. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of hedge funds have recently bought and sold shares of NVO. Envestnet Asset Management Inc. boosted its stake in Novo Nordisk A/S by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after purchasing an additional 58,935 shares during the period. Raymond James & Associates increased its position in Novo Nordisk A/S by 1.0% in the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after buying an additional 36,223 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 2.7% during the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after buying an additional 80,070 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after acquiring an additional 1,796,635 shares during the period. Finally, DSM Capital Partners LLC grew its stake in shares of Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after acquiring an additional 1,593,303 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

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.