Novo Nordisk A/S’s (NVO) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Novo Nordisk A/S (NYSE:NVO)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $160.00 price objective on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 30.40% from the company’s previous close.

Several other research firms also recently weighed in on NVO. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target on the stock. UBS Group began coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets began coverage on shares of Novo Nordisk A/S in a research report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price target on the stock. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Trading Down 0.0 %

Shares of NVO stock opened at $122.70 on Thursday. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $138.28. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $126.39 and its 200 day moving average is $110.72. The stock has a market capitalization of $550.62 billion, a P/E ratio of 45.36, a P/E/G ratio of 2.08 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The business had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.14 billion. Research analysts expect that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Institutional Trading of Novo Nordisk A/S

Several institutional investors and hedge funds have recently modified their holdings of NVO. Jennison Associates LLC increased its holdings in Novo Nordisk A/S by 100.3% in the 3rd quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock valued at $2,129,761,000 after acquiring an additional 11,727,507 shares during the last quarter. Polen Capital Management LLC bought a new stake in Novo Nordisk A/S in the 3rd quarter valued at $718,995,000. FMR LLC increased its holdings in Novo Nordisk A/S by 122.7% in the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock valued at $1,098,328,000 after acquiring an additional 6,654,614 shares during the last quarter. Morgan Stanley increased its holdings in Novo Nordisk A/S by 96.5% in the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after acquiring an additional 4,526,199 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in Novo Nordisk A/S by 91.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock valued at $827,354,000 after acquiring an additional 4,350,862 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

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.