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

Novo Nordisk A/S (NYSE:NVO) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Sunday.

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

Novo Nordisk A/S Trading Down 1.9 %

Shares of Novo Nordisk A/S stock opened at $85.73 on Friday. The business has a fifty day simple moving average of $105.31 and a 200-day simple moving average of $122.61. The firm has a market cap of $384.72 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.37 and a beta of 0.40. Novo Nordisk A/S has a fifty-two week low of $81.50 and a fifty-two week high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Novo Nordisk A/S in the second quarter worth $25,000. Daiwa Securities Group Inc. acquired a new stake in Novo Nordisk A/S during the 3rd quarter worth about $28,000. Abound Wealth Management grew its stake in Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after acquiring an additional 157 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at about $42,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of Novo Nordisk A/S in the third quarter worth approximately $48,000. 11.54% of the stock is currently owned by hedge funds and other 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.