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

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

A number of other equities research analysts also recently issued reports on the stock. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. BMO Capital Markets reduced their target price on 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. Finally, Cantor Fitzgerald reaffirmed 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $150.40.

Novo Nordisk A/S Price Performance

NVO opened at $106.95 on Friday. The firm’s fifty day moving average price is $110.59 and its two-hundred day moving average price is $126.22. The company has a market capitalization of $479.94 billion, a price-to-earnings ratio of 34.61, a P/E/G ratio of 1.43 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 1 year low of $96.53 and a 1 year high of $148.15.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. American Trust lifted its stake in Novo Nordisk A/S by 139.1% in the third quarter. American Trust now owns 12,725 shares of the company’s stock valued at $1,515,000 after purchasing an additional 7,402 shares during the last quarter. Tri Ri Asset Management Corp bought a new stake in shares of Novo Nordisk A/S in the third quarter valued at $17,276,000. Peapack Gladstone Financial Corp raised its stake in shares of Novo Nordisk A/S by 17.2% in the third quarter. Peapack Gladstone Financial Corp now owns 28,156 shares of the company’s stock valued at $3,353,000 after buying an additional 4,122 shares during the period. Synovus Financial Corp lifted its position in shares of Novo Nordisk A/S by 5.2% during the 3rd quarter. Synovus Financial Corp now owns 54,697 shares of the company’s stock valued at $6,513,000 after buying an additional 2,684 shares during the last quarter. Finally, Optimist Retirement Group LLC grew its stake in shares of Novo Nordisk A/S by 4.3% during the 3rd quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock worth $327,000 after acquiring an additional 112 shares during the period. 11.54% of the stock is owned by institutional investors.

About Novo Nordisk A/S

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.