Novo Nordisk A/S (NYSE:NVO) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Novo Nordisk A/S (NYSE:NVO) from a hold rating to a strong sell rating in a research report released on Monday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on NVO. Citigroup restated a “neutral” rating on shares of Novo Nordisk A/S in a research report on Tuesday, May 12th. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Friday, June 19th. Weiss Ratings downgraded shares of Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 22nd. Sanford C. Bernstein began coverage on shares of Novo Nordisk A/S in a report on Wednesday, March 18th. They issued an “outperform” rating and a $175.00 target price for the company. Finally, Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Five equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $65.56.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $49.12 on Monday. The firm has a market cap of $219.31 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 4.50 and a beta of 0.77. The firm has a fifty day moving average price of $45.80 and a 200 day moving average price of $45.81. Novo Nordisk A/S has a fifty-two week low of $35.12 and a fifty-two week high of $71.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%.The firm had revenue of $10.85 billion for the quarter. As a group, sell-side analysts expect that Novo Nordisk A/S will post 3.38 earnings per share for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Loomis Sayles & Co. L P grew its holdings in shares of Novo Nordisk A/S by 6.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 17,135,384 shares of the company’s stock worth $871,848,000 after purchasing an additional 969,916 shares during the last quarter. Franklin Resources Inc. increased its stake in Novo Nordisk A/S by 5.1% in the 4th quarter. Franklin Resources Inc. now owns 14,702,508 shares of the company’s stock worth $748,064,000 after buying an additional 717,719 shares during the period. Morgan Stanley lifted its holdings in Novo Nordisk A/S by 3.5% during the 4th quarter. Morgan Stanley now owns 12,842,089 shares of the company’s stock valued at $653,406,000 after buying an additional 428,660 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Novo Nordisk A/S by 99.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock valued at $492,940,000 after buying an additional 4,836,285 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Novo Nordisk A/S in the 1st quarter valued at about $287,660,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.