Novo Nordisk A/S (NYSE:NVO) Earns Market Perform Rating from BMO Capital Markets

Novo Nordisk A/S (NYSE:NVO)‘s stock had its “market perform” rating reiterated by equities research analysts at BMO Capital Markets in a report released on Thursday, Marketbeat.com reports. They presently have a $64.00 price target on the stock, down from their prior price target of $105.00. BMO Capital Markets’ price objective would suggest a potential upside of 10.37% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a research report on Tuesday. They set an “underperform” rating on the stock. Finally, Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $135.00.

Novo Nordisk A/S Stock Down 7.8 %

Shares of NVO opened at $57.99 on Thursday. The company has a market capitalization of $260.23 billion, a P/E ratio of 17.63, a PEG ratio of 0.90 and a beta of 0.61. Novo Nordisk A/S has a one year low of $57.28 and a one year high of $148.15. The business’s 50 day simple moving average is $75.52 and its 200-day simple moving average is $91.71. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping 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%. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NVO. Center for Financial Planning Inc. boosted its position in shares of Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its stake in Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after acquiring an additional 300 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth about $29,000. Transce3nd LLC bought a new position in shares of Novo Nordisk A/S during the 4th quarter valued at about $33,000. Finally, CX Institutional acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $36,000. Institutional investors own 11.54% of the company’s stock.

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.