Novo Nordisk A/S’s (NVO) Hold Rating Reiterated at Argus

Argus restated their hold rating on shares of Novo Nordisk A/S (NYSE:NVO) in a research note published on Monday, Marketbeat reports.

NVO has been the subject of several other research reports. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $50.00 to $46.00 and set a “market perform” rating for the company in a research note on Tuesday, November 25th. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Zacks Research downgraded Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 3rd. Finally, Rothschild Redb upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.33.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $49.06 on Monday. Novo Nordisk A/S has a 52 week low of $43.08 and a 52 week high of $112.52. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The stock has a market cap of $219.06 billion, a P/E ratio of 14.26 and a beta of 0.67. The stock has a 50 day moving average of $51.22 and a 200-day moving average of $58.63.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. The business had revenue of $11.79 billion during the quarter, compared to analyst estimates of $11.98 billion. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. On average, analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

Several hedge funds have recently made changes to their positions in NVO. IFP Advisors Inc increased its position in Novo Nordisk A/S by 21.1% in the third quarter. IFP Advisors Inc now owns 13,712 shares of the company’s stock worth $761,000 after buying an additional 2,391 shares during the period. Innova Wealth Partners boosted its holdings in shares of Novo Nordisk A/S by 35.6% during the third quarter. Innova Wealth Partners now owns 4,091 shares of the company’s stock valued at $227,000 after acquiring an additional 1,073 shares during the period. Tevis Investment Management grew its position in shares of Novo Nordisk A/S by 12.1% during the third quarter. Tevis Investment Management now owns 44,700 shares of the company’s stock worth $2,480,000 after acquiring an additional 4,838 shares during the last quarter. XXEC Inc. grew its position in shares of Novo Nordisk A/S by 26.7% during the third quarter. XXEC Inc. now owns 99,075 shares of the company’s stock worth $5,498,000 after acquiring an additional 20,890 shares during the last quarter. Finally, Manhattan West Asset Management LLC lifted its position in Novo Nordisk A/S by 38.8% in the 3rd quarter. Manhattan West Asset Management LLC now owns 40,369 shares of the company’s stock valued at $2,240,000 after purchasing an additional 11,278 shares during 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.