Novo Nordisk A/S (NVO) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Novo Nordisk A/S (NYSE:NVO) from a sell rating to a hold rating in a report issued on Tuesday morning.
According to Zacks, “Novo Nordisk reported in line earnings but beat sales estimates in third-quarter 2018. However, the company remains optimistic about Ozempic and results for oral semaglutide. It is looking forward to make the first oral GLP-1 treatment available for people with type II diabetes. The company also made someorganizational changes aimed at boosting innovation in its R&D organization and redirecting resources in other parts of the organization to drive growth further. The company’s acquisition of Ziylo will provide it with the latter’s synthetic glucose binding molecules that will enable it todevelop glucose responsive insulins. The company’s expansion of its biopharm business also bodes well.Shares of the company underperformed the industry year to date.”
A number of other equities analysts also recently commented on the stock. Deutsche Bank reaffirmed a buy rating on shares of Novo Nordisk A/S in a report on Thursday, October 4th. Guggenheim started coverage on shares of Novo Nordisk A/S in a report on Monday, October 8th. They issued a buy rating for the company. Bank of America downgraded shares of Novo Nordisk A/S from a buy rating to a neutral rating in a report on Monday, October 8th. Pareto Securities downgraded shares of Novo Nordisk A/S from a buy rating to a hold rating in a report on Friday, October 5th. Finally, Kepler Capital Markets reaffirmed a hold rating on shares of Novo Nordisk A/S in a report on Thursday, October 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Novo Nordisk A/S currently has a consensus rating of Hold and a consensus price target of $64.00.
Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. Novo Nordisk A/S had a net margin of 34.94% and a return on equity of 81.50%. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.11 billion. On average, research analysts forecast that Novo Nordisk A/S will post 2.44 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in NVO. Lenox Wealth Management Inc. raised its stake in shares of Novo Nordisk A/S by 2.5% during the third quarter. Lenox Wealth Management Inc. now owns 92,644 shares of the company’s stock valued at $4,367,000 after purchasing an additional 2,260 shares in the last quarter. Bank of Montreal Can raised its position in Novo Nordisk A/S by 25.7% in the second quarter. Bank of Montreal Can now owns 133,017 shares of the company’s stock worth $6,135,000 after acquiring an additional 27,168 shares in the last quarter. US Bancorp DE raised its position in Novo Nordisk A/S by 16.6% in the second quarter. US Bancorp DE now owns 267,823 shares of the company’s stock worth $12,352,000 after acquiring an additional 38,165 shares in the last quarter. Green Square Capital LLC raised its position in Novo Nordisk A/S by 12.2% in the second quarter. Green Square Capital LLC now owns 11,177 shares of the company’s stock worth $515,000 after acquiring an additional 1,216 shares in the last quarter. Finally, Greenleaf Trust increased its stake in Novo Nordisk A/S by 7.3% in the 3rd quarter. Greenleaf Trust now owns 27,910 shares of the company’s stock worth $1,316,000 after purchasing an additional 1,910 shares in the last quarter. 6.85% of the stock is owned by institutional investors.
About Novo Nordisk A/S
Novo Nordisk A/S, a healthcare company, engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides insulins, GLP-1 and related delivery systems, and oral anti-diabetic drugs and obesity.
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