Novo Nordisk A/S (NYSE:NVO) Stock Rating Reaffirmed by BMO Capital Markets

Novo Nordisk A/S (NYSE:NVOGet Free Report)‘s stock had its “outperform” rating reaffirmed by analysts at BMO Capital Markets in a report issued on Tuesday, Benzinga reports. They presently have a $163.00 price objective on the stock. BMO Capital Markets’ target price indicates a potential upside of 11.27% from the company’s previous close.

A number of other research firms also recently commented on NVO. Argus increased their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.67.

Read Our Latest Stock Report on NVO

Novo Nordisk A/S Stock Up 3.0 %

NYSE NVO traded up $4.21 during trading hours on Tuesday, reaching $146.49. 4,462,154 shares of the company traded hands, compared to its average volume of 4,462,826. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $148.15. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $657.38 billion, a PE ratio of 50.51, a PEG ratio of 1.41 and a beta of 0.41. The company has a 50 day moving average of $133.31 and a two-hundred day moving average of $122.37.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The firm had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. As a group, equities analysts expect that Novo Nordisk A/S will post 3.41 earnings per share for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First PREMIER Bank bought a new position in Novo Nordisk A/S during the first quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S during the first quarter worth $26,000. Orion Capital Management LLC acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at $26,000. CNB Bank bought a new position in shares of Novo Nordisk A/S in the fourth quarter valued at about $26,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Novo Nordisk A/S in the first quarter valued at about $34,000. Institutional investors own 11.54% of the company’s stock.

About Novo Nordisk A/S

(Get Free Report)

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.

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Analyst Recommendations for Novo Nordisk A/S (NYSE:NVO)

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