Novo Nordisk A/S (NYSE:NVO) Given Consensus Recommendation of “Buy” by Brokerages

Novo Nordisk A/S (NYSE:NVO) has earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $150.40.

A number of equities research analysts have recently issued reports on NVO shares. BMO Capital Markets cut their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th.

Novo Nordisk A/S Trading Down 1.9 %

Novo Nordisk A/S stock opened at $105.96 on Friday. Novo Nordisk A/S has a 1 year low of $99.42 and a 1 year high of $148.15. The firm’s 50 day moving average price is $109.99 and its two-hundred day moving average price is $125.67. The firm has a market cap of $475.50 billion, a price-to-earnings ratio of 34.29, a price-to-earnings-growth ratio of 1.37 and a beta of 0.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its stake in Novo Nordisk A/S by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after purchasing an additional 58,935 shares in the last quarter. Raymond James & Associates grew its stake in shares of Novo Nordisk A/S by 1.0% in the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after buying an additional 36,223 shares in the last quarter. Natixis Advisors LLC increased its holdings in Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after buying an additional 80,070 shares during the last quarter. International Assets Investment Management LLC raised its position in Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after acquiring an additional 1,796,635 shares in the last quarter. Finally, DSM Capital Partners LLC lifted its stake in Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.