Novo Nordisk A/S (NYSE:NVO) Stock Rating Lowered by StockNews.com

Novo Nordisk A/S (NYSE:NVO) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

A number of other brokerages also recently commented on NVO. BMO Capital Markets lowered their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. 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 Wednesday, November 6th. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. One investment 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 company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $150.40.

Novo Nordisk A/S Stock Down 1.5 %

NYSE NVO traded down $1.65 during trading hours on Friday, hitting $106.96. 6,249,240 shares of the company were exchanged, compared to its average volume of 4,531,001. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm has a market cap of $479.99 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 1.43 and a beta of 0.40. The company has a 50 day moving average of $110.75 and a two-hundred day moving average of $126.48. Novo Nordisk A/S has a 52-week low of $96.53 and a 52-week high of $148.15.

Institutional Investors Weigh In On Novo Nordisk A/S

Several large investors have recently modified their holdings of NVO. Fiduciary Financial Group LLC acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth $223,000. Miracle Mile Advisors LLC grew its holdings in shares of Novo Nordisk A/S by 10.4% during the second quarter. Miracle Mile Advisors LLC now owns 5,520 shares of the company’s stock worth $788,000 after buying an additional 519 shares during the last quarter. Brookstone Capital Management increased its position in Novo Nordisk A/S by 3.4% in the 2nd quarter. Brookstone Capital Management now owns 16,594 shares of the company’s stock valued at $2,247,000 after acquiring an additional 553 shares during the period. Oakworth Capital Inc. raised its stake in Novo Nordisk A/S by 384.3% during the 2nd quarter. Oakworth Capital Inc. now owns 862 shares of the company’s stock valued at $123,000 after acquiring an additional 684 shares during the last quarter. Finally, Stokes Capital Advisors LLC raised its stake in Novo Nordisk A/S by 14.4% during the 2nd quarter. Stokes Capital Advisors LLC now owns 12,785 shares of the company’s stock valued at $1,825,000 after acquiring an additional 1,605 shares during 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.