Cowen Upgrades Novo Nordisk A/S (NYSE:NVO) to Outperform

Novo Nordisk A/S (NYSE:NVOGet Rating) was upgraded by investment analysts at Cowen from a “market perform” rating to an “outperform” rating in a research note issued on Monday, Briefing.com reports. The brokerage currently has a $130.00 target price on the stock. Cowen’s price objective would indicate a potential upside of 16.15% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Cowen upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, March 16th. StockNews.com assumed coverage on shares of Novo Nordisk A/S in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Citigroup raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 2nd. Finally, Berenberg Bank lifted their price target on Novo Nordisk A/S from 585.00 to 780.00 and gave the stock a “hold” rating in a research report on Tuesday, April 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $491.20.

NYSE NVO traded up $1.22 on Monday, reaching $111.92. 3,365 shares of the company’s stock traded hands, compared to its average volume of 1,486,556. Novo Nordisk A/S has a 12 month low of $73.25 and a 12 month high of $122.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.86 and a quick ratio of 0.66. The stock has a 50-day simple moving average of $108.66 and a 200 day simple moving average of $107.05. The stock has a market cap of $263.55 billion, a PE ratio of 33.92, a P/E/G ratio of 2.56 and a beta of 0.51.

Novo Nordisk A/S (NYSE:NVOGet Rating) last issued its earnings results on Wednesday, February 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. Novo Nordisk A/S had a net margin of 34.00% and a return on equity of 72.70%. The firm had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.63 billion. During the same quarter last year, the business earned $0.64 earnings per share. As a group, analysts anticipate that Novo Nordisk A/S will post 3.35 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the business. Capital International Investors grew its stake in shares of Novo Nordisk A/S by 3.3% during the 4th quarter. Capital International Investors now owns 5,653,043 shares of the company’s stock valued at $631,330,000 after purchasing an additional 179,049 shares during the period. BlackRock Inc. grew its stake in shares of Novo Nordisk A/S by 1.3% during the 4th quarter. BlackRock Inc. now owns 3,464,132 shares of the company’s stock valued at $387,982,000 after acquiring an additional 45,842 shares during the period. WCM Investment Management LLC bought a new position in shares of Novo Nordisk A/S during the 4th quarter valued at approximately $278,383,000. Parametric Portfolio Associates LLC grew its stake in shares of Novo Nordisk A/S by 3.5% during the 4th quarter. Parametric Portfolio Associates LLC now owns 2,428,890 shares of the company’s stock valued at $272,036,000 after acquiring an additional 82,760 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Novo Nordisk A/S by 3.9% during the 3rd quarter. Royal Bank of Canada now owns 1,693,852 shares of the company’s stock valued at $162,626,000 after acquiring an additional 62,829 shares during the period. Institutional investors and hedge funds own 10.80% of the company’s stock.

Novo Nordisk A/S Company Profile (Get Rating)

Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases.

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Analyst Recommendations for Novo Nordisk A/S (NYSE:NVO)

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