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

StockNews.com upgraded shares of Novo Nordisk A/S (NYSE:NVO) from a buy rating to a strong-buy rating in a report published on Friday morning.

Several other brokerages have also recently issued reports on NVO. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, October 10th. BMO Capital Markets decreased their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Trading Down 2.0 %

Shares of NVO stock opened at $109.72 on Friday. The stock’s fifty day moving average is $123.74 and its two-hundred day moving average is $130.85. The firm has a market capitalization of $492.37 billion, a P/E ratio of 37.58, a PEG ratio of 1.46 and a beta of 0.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Research analysts expect that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors have recently modified their holdings of the company. Buckingham Capital Management Inc. purchased a new stake in Novo Nordisk A/S during the 3rd quarter worth about $3,874,000. Venturi Wealth Management LLC lifted its position in Novo Nordisk A/S by 16.3% in the third quarter. Venturi Wealth Management LLC now owns 37,232 shares of the company’s stock valued at $4,433,000 after acquiring an additional 5,220 shares during the last quarter. Catalytic Wealth RIA LLC boosted its position in shares of Novo Nordisk A/S by 5.0% in the 3rd quarter. Catalytic Wealth RIA LLC now owns 15,689 shares of the company’s stock valued at $1,868,000 after purchasing an additional 740 shares during the period. Patten & Patten Inc. TN grew its position in shares of Novo Nordisk A/S by 84.1% during the third quarter. Patten & Patten Inc. TN now owns 3,765 shares of the company’s stock worth $448,000 after acquiring an additional 1,720 shares during the last quarter. Finally, Kennebec Savings Bank acquired a new position in Novo Nordisk A/S in the 3rd quarter valued at about $106,000. 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.