Novo Nordisk A/S (NYSE:NVO) Given Hold (C) Rating at Weiss Ratings

Key Points

• Novo Nordisk A/S received a "hold (c)" rating from Weiss Ratings, maintaining a cautious outlook on the stock amidst fluctuating analyst ratings.
• Shares of Novo Nordisk traded down 1.4%, closing at $56.72, with a market capitalization of $253.23 billion and a consensus target price of $76.00.
• During the last quarter, Novo Nordisk reported earnings per share of $0.97, exceeding expectations, while its revenue was reported at $11.69 billion.

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s stock had its "hold (c)" rating reissued by equities researchers at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets restated a "market perform" rating and issued a $55.00 target price (up previously from $50.00) on shares of Novo Nordisk A/S in a report on Tuesday. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. TD Cowen decreased their price objective on shares of 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. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Finally, UBS Group lowered shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.00.

Novo Nordisk A/S Stock Down 1.4%

Shares of NVO stock traded down $0.79 on Tuesday, reaching $56.72. 5,206,786 shares of the company were exchanged, compared to its average volume of 12,110,916. The company has a market cap of $253.23 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 2.58 and a beta of 0.68. The company has a 50-day moving average of $55.61 and a 200-day moving average of $63.03. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $119.09.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Jennison Associates LLC boosted its holdings in Novo Nordisk A/S by 0.3% in the 2nd quarter. Jennison Associates LLC now owns 18,885,343 shares of the company's stock valued at $1,303,466,000 after purchasing an additional 63,341 shares during the period. Loomis Sayles & Co. L P raised its position in shares of Novo Nordisk A/S by 1.5% during the 2nd quarter. Loomis Sayles & Co. L P now owns 12,576,031 shares of the company's stock valued at $867,998,000 after buying an additional 187,789 shares in the last quarter. Kingstone Capital Partners Texas LLC raised its position in shares of Novo Nordisk A/S by 301,443.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock valued at $690,560,000 after buying an additional 10,001,898 shares in the last quarter. Folketrygdfondet raised its position in shares of Novo Nordisk A/S by 6.9% during the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock valued at $661,202,000 after buying an additional 617,974 shares in the last quarter. Finally, Sustainable Growth Advisers LP raised its position in shares of Novo Nordisk A/S by 11.7% during the 2nd quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company's stock valued at $427,416,000 after buying an additional 649,390 shares in the last quarter. 11.54% of the stock is owned by 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.

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