Novo Nordisk A/S (NYSE:NVO) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Novo Nordisk A/S (NYSE:NVO) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other research analysts have also weighed in on the company. Guggenheim lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. HSBC lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 price objective on the stock. in a research report on Thursday, July 31st. Hsbc Global Res lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Finally, Dbs Bank lowered Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $93.67.

Novo Nordisk A/S Trading Up 1.4%

Shares of NVO opened at $48.86 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $218.15 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. The stock’s fifty day simple moving average is $68.89 and its 200 day simple moving average is $72.37. Novo Nordisk A/S has a twelve month low of $46.90 and a twelve month high of $139.74.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of hedge funds have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL lifted its stake in shares of 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 buying an additional 300 shares during the period. Copeland Capital Management LLC raised its position in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. acquired a new position in Novo Nordisk A/S in the first quarter worth about $27,000. Park Square Financial Group LLC acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth approximately $29,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $30,000. 11.54% of the stock is owned by institutional investors and hedge funds.

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.