BMO Capital Markets Trims Novo Nordisk A/S (NYSE:NVO) Target Price to $160.00

Novo Nordisk A/S (NYSE:NVO) had its price target cut by research analysts at BMO Capital Markets from $170.00 to $160.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 19.88% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on NVO. Argus raised their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, August 5th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Up 4.1 %

Novo Nordisk A/S stock traded up $5.30 during mid-day trading on Thursday, reaching $133.47. 7,503,650 shares of the company were exchanged, compared to its average volume of 4,552,021. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The firm has a market cap of $598.95 billion, a P/E ratio of 46.02, a PEG ratio of 1.33 and a beta of 0.41. The business has a fifty day moving average of $137.53 and a 200 day moving average of $129.77. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15.

Institutional Investors Weigh In On Novo Nordisk A/S

Large investors have recently made changes to their positions in the stock. First PREMIER Bank purchased a new position in Novo Nordisk A/S during the 1st quarter worth approximately $25,000. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S during the second quarter worth $25,000. CNB Bank acquired a new position in Novo Nordisk A/S during the fourth quarter valued at $26,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Novo Nordisk A/S in the first quarter valued at $26,000. Finally, Orion Capital Management LLC acquired a new stake in Novo Nordisk A/S during the 1st quarter worth about $26,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

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.