Novo Nordisk A/S (NYSE:NVO) Raised to “Market Perform” at Sanford C. Bernstein

Novo Nordisk A/S (NYSE:NVO) was upgraded by equities researchers at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, Marketbeat reports.

Other analysts have also issued research reports about the company. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.20.

Novo Nordisk A/S Trading Down 2.2 %

NYSE:NVO opened at $83.19 on Monday. The company has a market cap of $373.32 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The company has a 50 day simple moving average of $101.94 and a two-hundred day simple moving average of $120.27. Novo Nordisk A/S has a 12 month low of $81.50 and a 12 month high of $148.15.

Institutional Investors Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVO. International Assets Investment Management LLC increased its stake 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 worth $215,942,000 after purchasing an additional 1,796,635 shares in the last quarter. DSM Capital Partners LLC boosted its holdings in Novo Nordisk A/S by 257,816.0% in the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after buying an additional 1,593,303 shares during the period. Mediolanum International Funds Ltd purchased a new stake in Novo Nordisk A/S in the 3rd quarter worth $98,765,000. Marshall Wace LLP increased its stake in Novo Nordisk A/S by 34,472.1% in the 2nd quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after buying an additional 689,441 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Novo Nordisk A/S in the third quarter valued at about $42,017,000. 11.54% of the stock is owned by hedge funds and other 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.