Novo Nordisk A/S (NYSE:NVO – Get Free Report)‘s stock had its “outperform” rating restated by stock analysts at BMO Capital Markets in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $163.00 target price on the stock. BMO Capital Markets’ price objective indicates a potential upside of 11.27% from the stock’s current price.
Several other research firms have also commented on NVO. Argus upped their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, June 17th. Finally, The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $145.67.
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Novo Nordisk A/S Stock Performance
Novo Nordisk A/S (NYSE:NVO – Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. The firm had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. On average, equities analysts forecast that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. First PREMIER Bank purchased a new position in shares of Novo Nordisk A/S during the first quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S during the first quarter valued at about $26,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $26,000. CNB Bank bought a new position in shares of Novo Nordisk A/S in the 4th quarter valued at about $26,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $34,000. Hedge funds and other 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.
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