StockNews.com Upgrades Novo Nordisk A/S (NYSE:NVO) to Strong-Buy

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

Other equities analysts also recently issued research reports about the company. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. BMO Capital Markets decreased 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 report on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $150.40.

Novo Nordisk A/S Stock Down 17.8 %

Shares of Novo Nordisk A/S stock opened at $85.00 on Friday. The firm has a market cap of $381.44 billion, a price-to-earnings ratio of 27.51, a P/E/G ratio of 1.37 and a beta of 0.40. The stock has a 50-day simple moving average of $109.01 and a 200-day simple moving average of $125.06. Novo Nordisk A/S has a 52-week low of $81.50 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Institutional Trading of Novo Nordisk A/S

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its position in shares of Novo Nordisk A/S by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after acquiring an additional 80,070 shares during the period. Zions Bancorporation N.A. grew its holdings in shares of Novo Nordisk A/S by 57.0% in the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock valued at $2,207,000 after buying an additional 6,726 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Novo Nordisk A/S by 14.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after buying an additional 37,346 shares in the last quarter. LRI Investments LLC raised its stake in Novo Nordisk A/S by 103.4% during the 3rd quarter. LRI Investments LLC now owns 12,884 shares of the company’s stock worth $1,534,000 after buying an additional 6,550 shares during the period. Finally, Destination Wealth Management lifted its holdings in Novo Nordisk A/S by 5.8% during the third quarter. Destination Wealth Management now owns 158,898 shares of the company’s stock worth $18,920,000 after acquiring an additional 8,780 shares in 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.