UBS Group Upgrades Novo Nordisk A/S (NYSE:NVO) to “Buy”

Novo Nordisk A/S (NYSE:NVO) was upgraded by investment analysts at UBS Group from a “sell” rating to a “buy” rating in a research note issued on Wednesday,Benzinga reports.

NVO has been the topic of several other reports. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Finally, BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $85.63 on Wednesday. The stock has a market cap of $384.27 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 1.37 and a beta of 0.45. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $100.86 and a 200 day simple moving average of $119.79. Novo Nordisk A/S has a 52 week low of $81.50 and a 52 week high of $148.15.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S during the second quarter valued at approximately $25,000. Daiwa Securities Group Inc. bought a new stake in Novo Nordisk A/S during the 3rd quarter valued at $28,000. Abound Wealth Management boosted its position in Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after buying an additional 157 shares during the period. Capital Performance Advisors LLP bought a new stake in Novo Nordisk A/S in the 3rd quarter worth $42,000. Finally, Carolina Wealth Advisors LLC bought a new position in shares of Novo Nordisk A/S during the third quarter valued at about $48,000. 11.54% of the stock is currently owned by institutional investors.

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.