Novo Nordisk A/S (NYSE:NVO) Price Target Raised to $160.00 at Argus

Novo Nordisk A/S (NYSE:NVOFree Report) had its target price increased by Argus from $125.00 to $160.00 in a research report released on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets assumed coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They issued an outperform rating and a $163.00 price target for the company. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a buy rating and a $156.00 price target for the company. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of Moderate Buy and a consensus price target of $145.67.

Get Our Latest Stock Analysis on NVO

Novo Nordisk A/S Trading Up 0.5 %

Shares of NYSE NVO opened at $143.63 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a market capitalization of $644.54 billion, a P/E ratio of 49.53, a price-to-earnings-growth ratio of 1.48 and a beta of 0.41. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $143.94. The business has a fifty day moving average price of $130.05 and a 200 day moving average price of $119.51.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The company had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Equities research analysts expect that Novo Nordisk A/S will post 3.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NVO. Pacific Center for Financial Services grew its holdings in Novo Nordisk A/S by 100.0% during the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. First PREMIER Bank acquired a new stake in Novo Nordisk A/S during the first quarter worth about $25,000. CNB Bank acquired a new stake in Novo Nordisk A/S during the fourth quarter worth about $26,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S during the first quarter worth about $26,000. Finally, Orion Capital Management LLC acquired a new stake in Novo Nordisk A/S during the first quarter worth about $26,000. 11.54% of the stock is owned by institutional investors and hedge funds.

About Novo Nordisk A/S

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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.

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