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

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

A number of other brokerages also recently weighed in on NVO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets dropped their target price on shares of 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. Finally, BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One research analyst has 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 data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Buy” and an average price target of $140.20.

Novo Nordisk A/S Price Performance

NVO opened at $85.73 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 1-year low of $81.50 and a 1-year high of $148.15. The company has a 50-day moving average of $105.31 and a 200-day moving average of $122.61. The company has a market capitalization of $384.72 billion, a P/E ratio of 27.74, a PEG ratio of 1.37 and a beta of 0.40.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of hedge funds have recently made changes to their positions in NVO. Envestnet Asset Management Inc. increased its position in Novo Nordisk A/S by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after acquiring an additional 58,935 shares during the period. Raymond James & Associates increased its holdings in shares of Novo Nordisk A/S by 1.0% during the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after purchasing an additional 36,223 shares during the period. Natixis Advisors LLC raised its stake in shares of Novo Nordisk A/S by 2.7% during the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after purchasing an additional 80,070 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after purchasing an additional 1,796,635 shares during the period. Finally, DSM Capital Partners LLC increased its stake in Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after buying an additional 1,593,303 shares during the period. Institutional investors own 11.54% of the company’s stock.

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.