Novo Nordisk A/S (NYSE:NVO) Cut to Buy at StockNews.com

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

Several other brokerages also recently issued reports on NVO. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $150.40.

Novo Nordisk A/S Stock Down 1.5 %

Shares of NYSE NVO opened at $106.95 on Friday. Novo Nordisk A/S has a 52-week low of $96.53 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The business has a fifty day moving average of $110.59 and a two-hundred day moving average of $126.17. The stock has a market cap of $479.94 billion, a PE ratio of 34.61, a PEG ratio of 1.43 and a beta of 0.40.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of large investors have recently modified their holdings of the stock. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S in the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S during the second quarter worth $25,000. Gilliland Jeter Wealth Management LLC lifted its stake in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Daiwa Securities Group Inc. bought a new position in Novo Nordisk A/S in the third quarter valued at about $28,000. Finally, Abound Wealth Management increased its position in Novo Nordisk A/S by 257.4% in the second quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after purchasing an additional 157 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.