Sanford C. Bernstein Upgrades Novo Nordisk A/S (NYSE:NVO) to Outperform

Novo Nordisk A/S (NYSE:NVO) was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports.

A number of other analysts also recently commented on the company. Zacks Research downgraded Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 20th. TD Cowen decreased their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, August 19th. Wall Street Zen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. HSBC cut Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 price target on the stock. in a report on Thursday, July 31st. Finally, BNP Paribas Exane raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price on the stock in a report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $81.00.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO traded down $0.35 during trading on Tuesday, hitting $53.94. 12,598,051 shares of the stock were exchanged, compared to its average volume of 11,757,367. The company has a fifty day moving average price of $59.16 and a two-hundred day moving average price of $67.16. The company has a market cap of $240.82 billion, a PE ratio of 14.81, a P/E/G ratio of 2.10 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $138.22.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. On average, analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of hedge funds have recently bought and sold shares of the company. North Star Investment Management Corp. lifted its stake in shares of Novo Nordisk A/S by 18.2% in the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company’s stock valued at $1,440,000 after buying an additional 3,200 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Novo Nordisk A/S by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company’s stock valued at $58,316,000 after buying an additional 47,804 shares during the period. Stanley Laman Group Ltd. bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $390,000. Dover Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $505,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Novo Nordisk A/S by 15.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 261,243 shares of the company’s stock valued at $18,141,000 after buying an additional 35,329 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Company Profile

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.