Novo Nordisk A/S’s (NVO) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Novo Nordisk A/S (NYSE:NVO) in a research note published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $160.00 price target on the stock.

A number of other research analysts have also recently weighed in on the company. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a buy rating and a $156.00 price objective on the stock. Argus boosted their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a buy rating in a report on Monday, June 10th. Finally, BMO Capital Markets reissued an outperform rating and issued a $163.00 price target on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $145.67.

Novo Nordisk A/S Trading Up 1.9 %

Shares of NYSE:NVO opened at $145.42 on Monday. The stock has a market capitalization of $652.58 billion, a price-to-earnings ratio of 50.14, a PEG ratio of 1.42 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The stock’s 50-day simple moving average is $135.00 and its two-hundred day simple moving average is $123.71. Novo Nordisk A/S has a 52-week low of $75.56 and a 52-week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The business had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Analysts expect that Novo Nordisk A/S will post 3.41 EPS for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds have recently made changes to their positions in the company. Pacific Center for Financial Services lifted its holdings in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. First PREMIER Bank purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $25,000. CNB Bank purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth $26,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $26,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $26,000. 11.54% of the stock is currently owned by hedge funds and other 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.