Novo Nordisk A/S (NYSE:NVO) Coverage Initiated by Analysts at Morgan Stanley

Investment analysts at Morgan Stanley started coverage on shares of Novo Nordisk A/S (NYSE:NVO) in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm set an “equal weight” rating on the stock.

Several other research firms also recently weighed in on NVO. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Finally, StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Down 0.2 %

Shares of NYSE NVO opened at $83.78 on Wednesday. The company has a market cap of $375.95 billion, a P/E ratio of 25.46, a PEG ratio of 0.96 and a beta of 0.45. The firm has a 50-day simple moving average of $90.96 and a two-hundred day simple moving average of $110.91. Novo Nordisk A/S has a 1 year low of $78.17 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Research analysts anticipate that Novo Nordisk A/S will post 3.86 earnings per share for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently modified their holdings of the stock. Center for Financial Planning Inc. raised its position in shares of Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after acquiring an additional 123 shares during the period. Daiwa Securities Group Inc. acquired a new position in Novo Nordisk A/S in the 3rd quarter worth about $28,000. Capital Performance Advisors LLP purchased a new position in Novo Nordisk A/S during the third quarter worth approximately $42,000. Albion Financial Group UT grew its holdings in Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after purchasing an additional 278 shares during the period. Finally, Sound Income Strategies LLC increased its position in shares of Novo Nordisk A/S by 82.1% in the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after buying an additional 243 shares in the last quarter. Institutional investors and hedge funds 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.