Novo Nordisk A/S (NYSE:NVO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $55.00 target price on the stock. Zacks Investment Research‘s price objective points to a potential upside of 13.36% from the stock’s previous close.
According to Zacks, “Novo Nordisk’s second-quarter results topped earnings, but missed revenue estimates. The company has a strong pipeline, primarily focusing on therapeutic proteins within insulin, GLP-1, blood clotting factors and human growth hormone. The company has a strong presence in the Diabetes care market with a global value market share of 27%. The segment is driven by strong performance of drugs like Victoza, Tresiba, Saxenda and Xultophy among others. Novo Nordisk’s stock movement has outperformed the industry. However, we believe continued growth from Victoza and Tresiba as well as higher contributions from Saxenda and Xultophy will be partly offset by the impact of lower realized prices in the U.S., loss of exclusivity for products in hormone replacement therapy, intensifying competition within the diabetes and biopharmaceuticals markets and macroeconomic conditions in many markets under International Operations.”
A number of other research analysts have also weighed in on NVO. BidaskClub lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Bank of America Corporation upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, September 6th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $56.00.
Shares of Novo Nordisk A/S (NVO) traded up 0.62% during midday trading on Wednesday, reaching $48.82. The company’s stock had a trading volume of 259,136 shares. The company has a market cap of $121.08 billion, a PE ratio of 19.73 and a beta of 0.60. Novo Nordisk A/S has a 12 month low of $30.89 and a 12 month high of $48.88. The company’s 50-day moving average price is $44.85 and its 200-day moving average price is $40.55.
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Several institutional investors have recently modified their holdings of the company. Keel Point LLC grew its position in shares of Novo Nordisk A/S by 0.4% during the second quarter. Keel Point LLC now owns 6,748 shares of the company’s stock valued at $289,000 after purchasing an additional 24 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 1.1% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,645 shares of the company’s stock valued at $113,000 after acquiring an additional 30 shares during the last quarter. Trillium Asset Management LLC lifted its holdings in shares of Novo Nordisk A/S by 0.4% in the 2nd quarter. Trillium Asset Management LLC now owns 11,928 shares of the company’s stock valued at $512,000 after acquiring an additional 48 shares during the last quarter. Baldwin Investment Management LLC lifted its holdings in shares of Novo Nordisk A/S by 1.4% in the 2nd quarter. Baldwin Investment Management LLC now owns 8,004 shares of the company’s stock valued at $343,000 after acquiring an additional 111 shares during the last quarter. Finally, Garrison Financial Corp lifted its holdings in shares of Novo Nordisk A/S by 1.3% in the 2nd quarter. Garrison Financial Corp now owns 11,675 shares of the company’s stock valued at $501,000 after acquiring an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 6.01% of the company’s stock.
Novo Nordisk A/S Company Profile
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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