Novo Nordisk A/S (NYSE:NVO) Upgraded to “Strong-Buy” at StockNews.com

Novo Nordisk A/S (NYSE:NVO) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Friday.

A number of other equities analysts have also recently commented on NVO. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, October 10th. BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO traded up $0.01 during midday trading on Friday, reaching $111.96. The company’s stock had a trading volume of 4,553,675 shares, compared to its average volume of 4,364,513. The company has a market cap of $502.42 billion, a P/E ratio of 38.34, a P/E/G ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The business’s 50 day moving average price is $124.25 and its two-hundred day moving average price is $130.85.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor OS LLC boosted its position in Novo Nordisk A/S by 0.6% during the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after acquiring an additional 82 shares during the last quarter. Cascade Financial Partners LLC lifted its stake in shares of Novo Nordisk A/S by 2.3% in the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after purchasing an additional 84 shares during the period. Novare Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 3.2% during the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after purchasing an additional 85 shares in the last quarter. AA Financial Advisors LLC increased its holdings in Novo Nordisk A/S by 3.2% in the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after purchasing an additional 86 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC lifted its stake in Novo Nordisk A/S by 2.3% in the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after buying an additional 86 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

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.