Novo Nordisk A/S (NYSE:NVO) Receives $128.00 Consensus Target Price from Brokerages

Novo Nordisk A/S (NYSE:NVO) has earned a consensus rating of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $112.00.

Several brokerages have recently commented on NVO. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Morgan Stanley began coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. Wall Street Zen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Friday, June 6th. Finally, Guggenheim cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its position in shares of Novo Nordisk A/S by 8.1% in the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company’s stock valued at $1,332,655,000 after buying an additional 1,165,955 shares during the last quarter. GQG Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 74.7% in the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company’s stock valued at $1,117,790,000 after purchasing an additional 5,556,460 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Novo Nordisk A/S by 34.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock valued at $995,397,000 after purchasing an additional 2,947,771 shares in the last quarter. Folketrygdfondet increased its position in shares of Novo Nordisk A/S by 6.9% during the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock valued at $661,202,000 after acquiring an additional 617,974 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Novo Nordisk A/S by 1.5% during the fourth quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company’s stock valued at $715,084,000 after acquiring an additional 123,681 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 0.8%

Shares of Novo Nordisk A/S stock opened at $78.66 on Friday. The business’s 50 day simple moving average is $66.58 and its 200 day simple moving average is $80.16. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $148.15. The firm has a market cap of $353.00 billion, a PE ratio of 23.91, a P/E/G ratio of 0.90 and a beta of 0.66. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. On average, analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

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.