Novo Nordisk A/S (NYSE:NVO) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Novo Nordisk A/S (NYSE:NVO) in a research note issued to investors on Monday, Benzinga reports. They currently have a $160.00 target price on the stock.

Several other analysts have also recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a buy rating and a $156.00 target price for the company. Argus raised their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a buy rating in a report on Monday, June 10th. Finally, BMO Capital Markets reiterated an outperform rating and issued a $163.00 target price on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $145.67.

Novo Nordisk A/S Trading Up 3.3 %

Shares of Novo Nordisk A/S stock traded up $4.12 during mid-day trading on Monday, hitting $130.12. 6,308,286 shares of the stock were exchanged, compared to its average volume of 4,429,546. The company has a 50-day simple moving average of $138.01 and a 200 day simple moving average of $129.49. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $583.92 billion, a price-to-earnings ratio of 45.07, a price-to-earnings-growth ratio of 1.33 and a beta of 0.41. Novo Nordisk A/S has a twelve month low of $79.65 and a twelve month high of $148.15.

Institutional Trading of Novo Nordisk A/S

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after acquiring an additional 26,067 shares during the last quarter. McKinley Carter Wealth Services Inc. increased its position in Novo Nordisk A/S by 37.0% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 60,356 shares of the company’s stock worth $6,244,000 after purchasing an additional 16,293 shares in the last quarter. Harbour Trust & Investment Management Co purchased a new position in Novo Nordisk A/S in the fourth quarter valued at approximately $6,105,000. Bank of New Hampshire lifted its position in Novo Nordisk A/S by 1,356.8% during the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock valued at $1,702,000 after buying an additional 12,347 shares in the last quarter. Finally, Cim LLC purchased a new stake in Novo Nordisk A/S during the fourth quarter worth approximately $23,547,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.