Novo Nordisk A/S (NYSE:NVO) Downgraded to “Strong Sell” Rating by Zacks Research

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

Other research analysts also recently issued reports about the company. Wolfe Research assumed coverage on Novo Nordisk A/S in a research note on Thursday, March 26th. They set a “peer perform” rating for the company. HSBC reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, July 6th. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Friday, June 19th. Finally, Sanford C. Bernstein started coverage on shares of Novo Nordisk A/S in a research note on Wednesday, March 18th. They set an “outperform” rating and a $175.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.56.

Novo Nordisk A/S Trading Down 0.3%

NYSE:NVO opened at $49.12 on Monday. Novo Nordisk A/S has a one year low of $35.12 and a one year high of $71.79. The business has a fifty day moving average price of $45.80 and a 200-day moving average price of $45.81. The firm has a market capitalization of $219.31 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 4.50 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share for the quarter. The company had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%. Sell-side analysts forecast that Novo Nordisk A/S will post 3.38 EPS for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently modified their holdings of the stock. Revolve Wealth Partners LLC increased its holdings in Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after acquiring an additional 200 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Novo Nordisk A/S by 21.0% during the 1st quarter. AQR Capital Management LLC now owns 62,099 shares of the company’s stock valued at $4,312,000 after purchasing an additional 10,758 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 18.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 10,320 shares of the company’s stock valued at $712,000 after purchasing an additional 1,587 shares during the last quarter. Invesco Ltd. grew its position in shares of Novo Nordisk A/S by 26.3% during the second quarter. Invesco Ltd. now owns 419,691 shares of the company’s stock valued at $28,967,000 after purchasing an additional 87,467 shares in the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in shares of Novo Nordisk A/S in the second quarter worth about $314,000. Institutional investors own 11.54% of the company’s stock.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.