Novo Nordisk A/S (NYSE:NVO) Upgraded by Zacks Research to “Hold” Rating

Novo Nordisk A/S (NYSE:NVO) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other brokerages have also recently issued reports on NVO. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. HSBC cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 price target on the stock. in a research report on Thursday, July 31st. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Dbs Bank raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.33.

Novo Nordisk A/S Trading Up 0.0%

NYSE NVO opened at $55.52 on Monday. The firm’s 50-day moving average is $55.62 and its two-hundred day moving average is $64.17. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $120.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The stock has a market capitalization of $247.90 billion, a P/E ratio of 15.25, a PEG ratio of 2.10 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The company had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Caldwell Trust Co acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $944,000. Canal Capital Management LLC boosted its holdings in shares of Novo Nordisk A/S by 50.3% in the 2nd quarter. Canal Capital Management LLC now owns 12,717 shares of the company’s stock valued at $878,000 after buying an additional 4,256 shares in the last quarter. NWF Advisory Services Inc. acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $540,000. Reynders McVeigh Capital Management LLC acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $25,116,000. Finally, American Trust boosted its holdings in shares of Novo Nordisk A/S by 43.9% in the 2nd quarter. American Trust now owns 7,721 shares of the company’s stock valued at $533,000 after buying an additional 2,356 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.