HSBC Downgrades Novo Nordisk A/S (NYSE:NVO) to Hold

Novo Nordisk A/S (NYSE:NVO) was downgraded by investment analysts at HSBC from a “buy” rating to a “hold” rating in a report released on Thursday, Marketbeat reports. They presently have a $57.00 target price on the stock. HSBC’s target price would indicate a potential upside of 18.18% from the company’s current price.

NVO has been the subject of several other research reports. BNP Paribas began coverage on shares of Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an “underperform” rating for the company. Wall Street Zen raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Dbs Bank downgraded shares of Novo Nordisk A/S to a “sell” rating in a report on Friday, April 25th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $93.67.

Novo Nordisk A/S Stock Up 2.5%

Novo Nordisk A/S stock opened at $48.23 on Thursday. The company has a 50-day simple moving average of $69.26 and a 200-day simple moving average of $72.73. The firm has a market capitalization of $215.35 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.41 and a beta of 0.63. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. Novo Nordisk A/S has a one year low of $46.90 and a one year high of $139.74.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC lifted its stake in Novo Nordisk A/S by 301,443.6% during the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after buying an additional 10,001,898 shares in the last quarter. Nuveen LLC purchased a new stake in Novo Nordisk A/S during the first quarter valued at about $370,272,000. Nuveen Asset Management LLC lifted its stake in Novo Nordisk A/S by 73.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company’s stock valued at $537,189,000 after buying an additional 2,639,693 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Novo Nordisk A/S during the fourth quarter valued at about $158,657,000. Finally, Amundi lifted its stake in Novo Nordisk A/S by 49.1% during the first quarter. Amundi now owns 4,938,507 shares of the company’s stock valued at $331,576,000 after buying an additional 1,627,051 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

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.