Novo Nordisk A/S (NYSE:NVO) Upgraded at StockNews.com

StockNews.com upgraded shares of Novo Nordisk A/S (NYSE:NVO) from a buy rating to a strong-buy rating in a report issued on Saturday.

Several other research analysts have also recently issued reports on the company. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, BMO Capital Markets decreased their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $88.71 on Friday. The firm has a market capitalization of $398.09 billion, a PE ratio of 28.71, 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 current ratio of 0.94 and a quick ratio of 0.75. The company’s fifty day moving average price is $109.01 and its 200-day moving average price is $124.95. Novo Nordisk A/S has a 1-year low of $81.50 and a 1-year high of $148.15.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in shares of Novo Nordisk A/S in the second quarter valued at about $200,000. Independence Bank of Kentucky raised its holdings in shares of Novo Nordisk A/S by 67.0% during the second quarter. Independence Bank of Kentucky now owns 3,925 shares of the company’s stock valued at $560,000 after acquiring an additional 1,575 shares during the last quarter. AMG National Trust Bank boosted its stake in shares of Novo Nordisk A/S by 61.5% in the second quarter. AMG National Trust Bank now owns 10,275 shares of the company’s stock worth $1,467,000 after acquiring an additional 3,911 shares during the last quarter. Hills Bank & Trust Co purchased a new stake in shares of Novo Nordisk A/S during the second quarter worth approximately $133,000. Finally, Bank of New York Mellon Corp lifted its holdings in Novo Nordisk A/S by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 808,567 shares of the company’s stock valued at $115,415,000 after purchasing an additional 13,824 shares in the last quarter. 11.54% of the stock is 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.