Hsbc Global Res Downgrades Novo Nordisk A/S (NYSE:NVO) to Hold

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

Other equities research analysts have also issued reports about the stock. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. TD Cowen lowered their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, August 19th. Dbs Bank upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. BMO Capital Markets reiterated a “market perform” rating on shares of Novo Nordisk A/S in a report on Monday, November 17th. Finally, Rothschild Redb raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Hold” and an average target price of $57.40.

Novo Nordisk A/S Price Performance

NVO opened at $47.06 on Monday. The stock has a 50-day moving average price of $53.50 and a 200-day moving average price of $60.01. Novo Nordisk A/S has a 12-month low of $43.08 and a 12-month high of $112.52. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $210.12 billion, a P/E ratio of 12.93, a PEG ratio of 2.33 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. The company had revenue of $11.79 billion for the quarter, compared to analysts’ expectations of $11.98 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Novo Nordisk A/S has set its FY 2025 guidance at EPS. Equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novo Nordisk A/S

Hedge funds and other institutional investors have recently made changes to their positions in the business. Manhattan West Asset Management LLC boosted its holdings in Novo Nordisk A/S by 38.8% in the third quarter. Manhattan West Asset Management LLC now owns 40,369 shares of the company’s stock valued at $2,240,000 after acquiring an additional 11,278 shares in the last quarter. Greenfield Seitz Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 15.4% in the 3rd quarter. Greenfield Seitz Capital Management LLC now owns 96,960 shares of the company’s stock worth $5,380,000 after purchasing an additional 12,948 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of Novo Nordisk A/S by 2.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 352,471 shares of the company’s stock valued at $19,559,000 after purchasing an additional 7,404 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Novo Nordisk A/S during the third quarter valued at about $19,519,000. Finally, Centaurus Financial Inc. raised its stake in Novo Nordisk A/S by 139.4% in the third quarter. Centaurus Financial Inc. now owns 26,566 shares of the company’s stock worth $1,474,000 after buying an additional 15,467 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

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.