Hsbc Global Res Upgrades Novo Nordisk A/S (NYSE:NVO) to Strong-Buy

Novo Nordisk A/S (NYSE:NVO) was upgraded by Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

NVO has been the subject of a number of other reports. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research report on Wednesday, August 13th. Morgan Stanley lowered shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and cut their price objective for the company from $59.00 to $47.00 in a research report on Monday. Rothschild Redb upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. Finally, Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.50.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $58.77 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $262.42 billion, a PE ratio of 16.15, a P/E/G ratio of 2.27 and a beta of 0.68. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $120.56. The company has a 50-day moving average price of $55.16 and a two-hundred day moving average price of $63.98.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Jennison Associates LLC increased its stake in shares of Novo Nordisk A/S by 0.3% in the second quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock worth $1,303,466,000 after buying an additional 63,341 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Novo Nordisk A/S by 1.5% in the second quarter. Loomis Sayles & Co. L P now owns 12,576,031 shares of the company’s stock worth $867,998,000 after buying an additional 187,789 shares during the period. Kingstone Capital Partners Texas LLC increased its stake in shares of Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after buying an additional 10,001,898 shares during the period. Folketrygdfondet increased its stake in shares of Novo Nordisk A/S by 6.9% in the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock worth $661,202,000 after buying an additional 617,974 shares during the period. Finally, Sustainable Growth Advisers LP increased its stake in shares of Novo Nordisk A/S by 11.7% in the second quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock worth $427,416,000 after buying an additional 649,390 shares during the period. 11.54% of the stock is owned by hedge funds and other 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.