Novo Nordisk A/S (NYSE:NVO) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Novo Nordisk A/S (NYSE:NVO) in a research report sent to investors on Wednesday,Benzinga reports. Cantor Fitzgerald currently has a $160.00 price objective on the stock.

A number of other brokerages have also recently weighed in on NVO. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. BMO Capital Markets decreased their price objective on 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 research 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 stock. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Price Performance

NYSE NVO traded up $1.09 during trading hours on Wednesday, hitting $106.45. The company had a trading volume of 3,205,534 shares, compared to its average volume of 4,413,824. The firm has a 50 day simple moving average of $122.65 and a 200 day simple moving average of $130.59. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week high of $148.15. The firm has a market capitalization of $477.70 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 1.43 and a beta of 0.42. 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 (NYSE:NVO) last released its quarterly earnings results 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). 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 during the quarter, compared to analysts’ expectations of $9.91 billion. Equities research analysts expect that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Institutional Trading of Novo Nordisk A/S

Hedge funds have recently bought and sold shares of the company. GQG Partners LLC boosted its stake in shares of Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after acquiring an additional 3,151,584 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after buying an additional 1,796,635 shares during the period. DSM Capital Partners LLC grew its stake in Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after purchasing an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC grew its stake in Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after purchasing an additional 1,155,313 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in Novo Nordisk A/S during the 3rd quarter valued at $98,765,000. Hedge funds and other institutional investors 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.