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

StockNews.com cut shares of Novo Nordisk A/S (NYSE:NVO) from a strong-buy rating to a buy rating in a report issued on Sunday.

A number of other equities analysts have also weighed in on NVO. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Buy” and a consensus price target of $140.20.

Novo Nordisk A/S Stock Performance

NVO opened at $87.37 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm has a market cap of $392.08 billion, a PE ratio of 28.28, a P/E/G ratio of 1.37 and a beta of 0.40. The business has a fifty day simple moving average of $105.94 and a 200-day simple moving average of $123.01. Novo Nordisk A/S has a fifty-two week low of $81.50 and a fifty-two week high of $148.15.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of large investors have recently made changes to their positions in the business. American Trust grew its position in Novo Nordisk A/S by 139.1% during 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 in the last quarter. Tri Ri Asset Management Corp acquired a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at $17,276,000. Peapack Gladstone Financial Corp grew its holdings in shares of Novo Nordisk A/S by 17.2% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 28,156 shares of the company’s stock valued at $3,353,000 after acquiring an additional 4,122 shares in the last quarter. Synovus Financial Corp increased its stake in shares of Novo Nordisk A/S by 5.2% in the third quarter. Synovus Financial Corp now owns 54,697 shares of the company’s stock worth $6,513,000 after acquiring an additional 2,684 shares during the last quarter. Finally, Optimist Retirement Group LLC raised its holdings in shares of Novo Nordisk A/S by 4.3% during the third quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock worth $327,000 after acquiring an additional 112 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

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.