BMO Capital Markets Has Lowered Expectations for Novo Nordisk A/S (NYSE:NVO) Stock Price

Novo Nordisk A/S (NYSE:NVO) had its price objective decreased by analysts at BMO Capital Markets from $156.00 to $105.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 20.18% from the company’s previous close.

NVO has been the topic of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Trading Down 1.5 %

NVO opened at $87.37 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 52 week low of $81.50 and a 52 week high of $148.15. The stock has a market cap of $392.08 billion, a PE ratio of 28.28, a PEG ratio of 1.37 and a beta of 0.40. The business has a 50 day moving average of $108.39 and a 200-day moving average of $124.57.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in shares of Novo Nordisk A/S by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 808,567 shares of the company’s stock valued at $115,415,000 after acquiring an additional 13,824 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Novo Nordisk A/S by 4.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 327,840 shares of the company’s stock worth $46,796,000 after purchasing an additional 14,549 shares during the period. Harbour Investments Inc. raised its stake in Novo Nordisk A/S by 37.4% during the 2nd quarter. Harbour Investments Inc. now owns 11,719 shares of the company’s stock valued at $1,673,000 after buying an additional 3,188 shares during the last quarter. Riversedge Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 12.1% in the 2nd quarter. Riversedge Advisors LLC now owns 3,556 shares of the company’s stock worth $508,000 after buying an additional 383 shares during the last quarter. Finally, Zimmermann Investment Management & Planning LLC grew its holdings in shares of Novo Nordisk A/S by 20.7% in the second quarter. Zimmermann Investment Management & Planning LLC now owns 5,139 shares of the company’s stock worth $734,000 after acquiring an additional 883 shares during the period. Hedge funds and other institutional investors 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.