Berenberg Bank Downgrades Novo Nordisk A/S (NYSE:NVO) to Hold

Key Points

• Berenberg Bank downgraded Novo Nordisk from “buy” to “hold,” joining a broader analyst consensus of “hold.” MarketBeat lists 16 hold ratings, four buys and one sell, with an average price target of $63.72.
• Novo Nordisk shares opened at $47.22, with a market capitalization of approximately $210.82 billion. The stock has traded between $35.12 and $64.16 over the past year.
• The company reported quarterly revenue of $11.98 billion and earnings of $0.94 per share, alongside a 35.36% net margin and 61.20% return on equity. Institutional investors own 11.54% of the stock.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) was downgraded by analysts at Berenberg Bank from a "buy" rating to a "hold" rating in a report issued on Wednesday, MarketBeat Ratings reports.

Several other research analysts have also recently weighed in on the company. HSBC reiterated a "hold" rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Zacks Research downgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Friday, June 19th. Finally, Weiss Ratings raised shares of Novo Nordisk A/S from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of "Hold" and an average price target of $63.72.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $47.22 on Wednesday. The company has a market cap of $210.82 billion, a P/E ratio of 11.54, a P/E/G ratio of 4.35 and a beta of 0.76. The firm's fifty day moving average price is $47.15 and its two-hundred day moving average price is $44.72. Novo Nordisk A/S has a one year low of $35.12 and a one year high of $64.16. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported $0.94 EPS for the quarter. Novo Nordisk A/S had a net margin of 35.36% and a return on equity of 61.20%. The business had revenue of $11.98 billion during the quarter. Equities analysts expect that Novo Nordisk A/S will post 3.39 earnings per share for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Loomis Sayles & Co. L P lifted its position in shares of Novo Nordisk A/S by 6.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 17,135,384 shares of the company's stock worth $871,848,000 after buying an additional 969,916 shares during the last quarter. Franklin Resources Inc. grew its position in Novo Nordisk A/S by 5.1% in the fourth quarter. Franklin Resources Inc. now owns 14,702,508 shares of the company's stock valued at $748,064,000 after acquiring an additional 717,719 shares during the last quarter. Morgan Stanley raised its stake in Novo Nordisk A/S by 3.5% during the fourth quarter. Morgan Stanley now owns 12,842,089 shares of the company's stock worth $653,406,000 after acquiring an additional 428,660 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Novo Nordisk A/S by 99.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company's stock worth $492,940,000 after acquiring an additional 4,836,285 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Novo Nordisk A/S in the first quarter worth about $287,660,000. 11.54% of the stock is currently owned by institutional investors.

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.

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