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

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

A number of other research analysts also recently weighed in on NVO. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Buy” and an average price target of $150.40.

Novo Nordisk A/S Trading Down 1.5 %

Shares of NYSE NVO opened at $106.95 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a one year low of $96.53 and a one year high of $148.15. The business has a 50-day moving average price of $110.59 and a two-hundred day moving average price of $126.17. The firm has a market capitalization of $479.94 billion, a PE ratio of 34.61, a PEG ratio of 1.43 and a beta of 0.40.

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. Fiduciary Financial Group LLC bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter worth approximately $223,000. Miracle Mile Advisors LLC boosted its stake in Novo Nordisk A/S by 10.4% during the second quarter. Miracle Mile Advisors LLC now owns 5,520 shares of the company’s stock worth $788,000 after buying an additional 519 shares in the last quarter. Brookstone Capital Management increased its holdings in Novo Nordisk A/S by 3.4% in the 2nd quarter. Brookstone Capital Management now owns 16,594 shares of the company’s stock valued at $2,247,000 after buying an additional 553 shares during the period. Oakworth Capital Inc. raised its stake in shares of Novo Nordisk A/S by 384.3% in the 2nd quarter. Oakworth Capital Inc. now owns 862 shares of the company’s stock valued at $123,000 after buying an additional 684 shares in the last quarter. Finally, Stokes Capital Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 14.4% during the 2nd quarter. Stokes Capital Advisors LLC now owns 12,785 shares of the company’s stock worth $1,825,000 after acquiring an additional 1,605 shares during the period. 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.