Brokerages Set Novo Nordisk A/S (NYSE:NVO) Target Price at $56.21

Novo Nordisk A/S (NYSE:NVO) has received an average rating of “Hold” from the twenty-two brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $56.2143.

NVO has been the subject of several recent analyst reports. HSBC restated a “hold” rating and set a $54.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, December 10th. Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. CICC Research assumed coverage on shares of Novo Nordisk A/S in a research report on Friday, January 9th. They set an “outperform” rating and a $73.50 price target on the stock. Jefferies Financial Group started coverage on Novo Nordisk A/S in a research report on Monday, October 27th. They issued an “underperform” rating for the company. Finally, Hsbc Global Res cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. True Wealth Design LLC increased its position in shares of Novo Nordisk A/S by 209.8% during the third quarter. True Wealth Design LLC now owns 443 shares of the company’s stock valued at $25,000 after acquiring an additional 300 shares during the last quarter. NewSquare Capital LLC boosted its position in shares of Novo Nordisk A/S by 174.1% during the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after purchasing an additional 282 shares during the period. Guerra Advisors Inc acquired a new stake in Novo Nordisk A/S in the 3rd quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new stake in Novo Nordisk A/S in the 3rd quarter valued at approximately $30,000. Finally, Mid American Wealth Advisory Group Inc. purchased a new stake in Novo Nordisk A/S in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $62.28 on Friday. The business’s 50 day moving average price is $51.85 and its 200 day moving average price is $54.85. The company has a market cap of $278.08 billion, a price-to-earnings ratio of 18.10 and a beta of 0.66. 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 one year low of $43.08 and a one year high of $93.80.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%.The company had revenue of $11.79 billion during the quarter, compared to analysts’ expectations of $11.98 billion. On average, research analysts predict that Novo Nordisk A/S will post 3.84 EPS 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.