Analysts Set Novo Nordisk A/S (NYSE:NVO) PT at $53.33

Shares of Novo Nordisk A/S (NYSE:NVO) have been given a consensus rating of “Hold” by the twenty-two ratings firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $53.3333.

A number of research analysts have recently issued reports on NVO shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Novo Nordisk A/S in a research note on Monday, December 22nd. Hsbc Global Res downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Finally, HSBC reiterated a “hold” rating and issued a $54.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, December 10th.

Hedge Funds Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently made changes to their positions in the stock. Academy Capital Management increased its position in Novo Nordisk A/S by 0.3% in the 3rd quarter. Academy Capital Management now owns 367,419 shares of the company’s stock valued at $20,388,000 after buying an additional 1,170 shares in the last quarter. IFP Advisors Inc grew its stake in Novo Nordisk A/S by 21.1% in the third quarter. IFP Advisors Inc now owns 13,712 shares of the company’s stock valued at $761,000 after acquiring an additional 2,391 shares during the period. Innova Wealth Partners increased its holdings in shares of Novo Nordisk A/S by 35.6% during the third quarter. Innova Wealth Partners now owns 4,091 shares of the company’s stock valued at $227,000 after acquiring an additional 1,073 shares in the last quarter. Tevis Investment Management increased its holdings in shares of Novo Nordisk A/S by 12.1% during the third quarter. Tevis Investment Management now owns 44,700 shares of the company’s stock valued at $2,480,000 after acquiring an additional 4,838 shares in the last quarter. Finally, XXEC Inc. raised its position in shares of Novo Nordisk A/S by 26.7% during the third quarter. XXEC Inc. now owns 99,075 shares of the company’s stock worth $5,498,000 after purchasing an additional 20,890 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 0.5%

Shares of NYSE NVO opened at $52.29 on Wednesday. The company’s 50 day moving average price is $49.35 and its 200-day moving average price is $56.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78. Novo Nordisk A/S has a 52-week low of $43.08 and a 52-week high of $93.80. The company has a market capitalization of $233.49 billion, a P/E ratio of 15.20 and a beta of 0.67.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. The business had revenue of $11.79 billion during the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. Equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.