Berenberg Bank Upgrades Novo Nordisk A/S (NYSE:NVO) to "Buy"

Key Points

• Berenberg Bank upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating, indicating a positive outlook for the company.
• Analysts have mixed views, with six rating the stock as a buy, eleven as hold, and one as sell, giving Novo Nordisk a consensus rating of "Hold" and an average price target of $81.00.
• Novo Nordisk reported $0.97 earnings per share, beating analysts' expectations, with revenues of $11.69 billion during the last quarter.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) was upgraded by equities researchers at Berenberg Bank from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports.

Other research analysts also recently issued reports about the company. UBS Group downgraded Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 5th. TD Cowen cut their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research note on Tuesday. Sanford C. Bernstein upgraded Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research note on Tuesday, September 9th. Finally, Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Trading Up 2.8%

Novo Nordisk A/S stock opened at $57.19 on Wednesday. The business has a 50-day simple moving average of $57.44 and a two-hundred day simple moving average of $65.86. The company has a market cap of $255.35 billion, a P/E ratio of 15.71, a P/E/G ratio of 2.11 and a beta of 0.66. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $135.20. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

Several hedge funds have recently bought and sold shares of NVO. Copeland Capital Management LLC grew its position in Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after acquiring an additional 255 shares during the last quarter. North Capital Inc. bought a new position in shares of Novo Nordisk A/S during the 1st quarter worth $27,000. Park Square Financial Group LLC bought a new position in shares of Novo Nordisk A/S during the 4th quarter worth $29,000. Stone House Investment Management LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter worth $30,000. Finally, NewSquare Capital LLC grew its position in shares of Novo Nordisk A/S by 174.1% during the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company's stock worth $31,000 after buying an additional 282 shares in the last quarter. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Company Profile

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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