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

Novo Nordisk A/S (NYSE:NVO) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday.

Other analysts also recently issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Finally, BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $140.20.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $87.37 on Friday. The stock has a market cap of $392.08 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.37 and a beta of 0.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a 12 month low of $81.50 and a 12 month high of $148.15. The stock’s 50 day moving average price is $105.94 and its 200 day moving average price is $123.15.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of hedge funds have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new position in shares of Novo Nordisk A/S in the second quarter worth approximately $25,000. Abound Wealth Management raised its stake 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 purchasing an additional 157 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S in the third quarter valued at $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Novo Nordisk A/S in the third quarter worth $42,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in shares of Novo Nordisk A/S in the third quarter worth $48,000. 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.