Novo Nordisk A/S (NYSE:NVO) Downgraded by HSBC to Hold

Key Points

• HSBC downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating, with a revised price target of $57.00, suggesting a potential upside of 13.91% from the previous close.
• Other analysts have also downgraded their ratings for the company, with BMO Capital Markets reducing its price target from $105.00 to $64.00.
• Institutional investors showed increased interest in Novo Nordisk, with notable increases in holdings from Wellington Management and Summit Financial during the 4th quarter.

HSBC cut shares of Novo Nordisk A/S (NYSE:NVO - Free Report) from a buy rating to a hold rating in a report issued on Thursday, Marketbeat Ratings reports. They currently have $57.00 target price on the stock.

NVO has been the subject of several other reports. Dbs Bank downgraded Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. BNP Paribas initiated coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating for the company. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday. Wall Street Zen upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $93.67.

Novo Nordisk A/S Stock Up 2.5%

Shares of NVO traded up $1.16 during trading hours on Thursday, hitting $48.23. The company had a trading volume of 34,710,384 shares, compared to its average volume of 17,615,270. The firm has a fifty day moving average price of $69.26 and a 200-day moving average price of $72.73. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. The stock has a market capitalization of $215.35 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.41 and a beta of 0.63. Novo Nordisk A/S has a 52-week low of $46.90 and a 52-week high of $139.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. The firm had revenue of $11.87 billion during the quarter. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently bought and sold shares of the stock. North Star Investment Management Corp. boosted its position in shares of Novo Nordisk A/S by 18.2% in the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock worth $1,440,000 after purchasing an additional 3,200 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Novo Nordisk A/S by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company's stock worth $58,316,000 after purchasing an additional 47,804 shares during the period. Stanley Laman Group Ltd. bought a new position in shares of Novo Nordisk A/S in the first quarter worth approximately $390,000. Dover Advisors LLC bought a new position in shares of Novo Nordisk A/S in the first quarter worth approximately $505,000. Finally, GAMMA Investing LLC boosted its position in shares of Novo Nordisk A/S by 9.6% in the first quarter. GAMMA Investing LLC now owns 9,466 shares of the company's stock worth $657,000 after purchasing an additional 827 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.