Novo Nordisk A/S (NYSE:NVO) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Novo Nordisk A/S (NYSE:NVO) in a report released on Monday, Benzinga reports. The brokerage currently has a $160.00 price target on the stock.

A number of other analysts have also weighed in on the stock. BMO Capital Markets reaffirmed an outperform rating and issued a $163.00 price target on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Argus boosted their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a buy rating in a report on Monday, June 10th. Finally, The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a buy rating and a $156.00 target price for the company. Two 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. According to data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of Moderate Buy and an average price target of $145.67.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $138.87 on Monday. The firm has a market cap of $623.18 billion, a P/E ratio of 47.89, a P/E/G ratio of 1.41 and a beta of 0.41. The firm has a fifty day moving average of $135.95 and a two-hundred day moving average of $124.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The firm had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novo Nordisk A/S

Several hedge funds have recently added to or reduced their stakes in the company. First PREMIER Bank acquired a new position in Novo Nordisk A/S in the first quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Novo Nordisk A/S in the first quarter valued at $26,000. Orion Capital Management LLC bought a new stake in Novo Nordisk A/S during the 1st quarter worth about $26,000. CNB Bank acquired a new position in shares of Novo Nordisk A/S during the 4th quarter worth 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. 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.