Novo Nordisk A/S (NYSE:NVO) Stock Rating Lowered by Zacks Research

Novo Nordisk A/S (NYSE:NVO) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also commented on the company. Nordea Equity Research upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Friday, June 19th. HSBC restated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Wolfe Research started coverage on Novo Nordisk A/S in a research report on Thursday, March 26th. They set a “peer perform” rating for the company. Finally, Sanford C. Bernstein assumed coverage on Novo Nordisk A/S in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $175.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $65.56.

Novo Nordisk A/S Stock Down 0.3%

NVO stock opened at $49.12 on Monday. The stock has a market capitalization of $219.31 billion, a P/E ratio of 11.53, a P/E/G ratio of 4.50 and a beta of 0.77. The firm has a 50-day simple moving average of $45.80 and a 200-day simple moving average of $45.81. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $71.79.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share for the quarter. The firm had revenue of $10.85 billion during the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. Equities analysts forecast that Novo Nordisk A/S will post 3.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. CIBC Bancorp USA Inc. purchased a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at approximately $19,519,000. Romano Brothers AND Company raised its position in shares of Novo Nordisk A/S by 704.0% during the 4th quarter. Romano Brothers AND Company now owns 34,236 shares of the company’s stock valued at $1,742,000 after buying an additional 29,978 shares during the period. Capital Investment Counsel LLC acquired a new position in Novo Nordisk A/S in the fourth quarter valued at approximately $3,727,000. Marathon Capital Management lifted its holdings in Novo Nordisk A/S by 43.9% in the fourth quarter. Marathon Capital Management now owns 82,705 shares of the company’s stock valued at $4,208,000 after acquiring an additional 25,230 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its position in Novo Nordisk A/S by 131.9% in the fourth quarter. CWA Asset Management Group LLC now owns 76,993 shares of the company’s stock worth $3,917,000 after acquiring an additional 43,793 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Company Profile

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.