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

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

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Argus upped their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Stock Down 1.4 %

NVO stock opened at $119.05 on Tuesday. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. The business has a 50-day simple moving average of $131.69 and a 200 day simple moving average of $132.87. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market cap of $534.24 billion, a PE ratio of 41.05, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently bought and sold shares of NVO. Bank of New Hampshire grew its holdings in shares of Novo Nordisk A/S by 1,356.8% during the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after purchasing an additional 12,347 shares during the last quarter. Cim LLC acquired a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $23,547,000. Burford Brothers Inc. bought a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $1,045,000. Mark Asset Management LP acquired a new position in Novo Nordisk A/S in the 4th quarter valued at approximately $1,035,000. Finally, Fox Hill Wealth Management raised its stake in shares of Novo Nordisk A/S by 121.3% during the first quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock valued at $3,636,000 after acquiring an additional 15,525 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

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.