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

Key Points

• Novo Nordisk A/S was downgraded by Zacks Research from a "hold" to a "strong sell" rating, highlighting a negative shift in analyst sentiment towards the company.
• Despite the downgrade, other brokers have mixed ratings, with some maintaining a "buy" or "hold" position and an average target price of $81.00.
• The company reported earnings of $0.97 per share for the last quarter, exceeding expectations, but revenue fell short at $11.69 billion.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Hsbc Global Res lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. UBS Group lowered shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. BNP Paribas Exane raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price objective for the company in a research report on Wednesday, August 13th. Finally, Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Trading Up 2.6%

NYSE:NVO traded up $1.4410 on Wednesday, reaching $56.8910. 17,869,499 shares of the company's stock were exchanged, compared to its average volume of 29,123,660. The firm has a market capitalization of $254.02 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.98 and a beta of 0.63. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $139.74. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $62.57 and a 200-day moving average of $69.33.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results 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. The company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. As a group, analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Saratoga Research & Investment Management increased its holdings in shares of Novo Nordisk A/S by 4.0% in the second quarter. Saratoga Research & Investment Management now owns 1,512,677 shares of the company's stock valued at $104,405,000 after purchasing an additional 58,517 shares during the last quarter. Coppell Advisory Solutions LLC acquired a new position in Novo Nordisk A/S in the 2nd quarter valued at $1,963,000. B. Riley Wealth Advisors Inc. bought a new position in Novo Nordisk A/S during the 2nd quarter worth $652,000. Marex Group plc bought a new position in Novo Nordisk A/S during the second quarter worth about $12,497,000. Finally, Advisory Services Network LLC grew its position in shares of Novo Nordisk A/S by 65.0% during the 2nd quarter. Advisory Services Network LLC now owns 88,208 shares of the company's stock worth $6,088,000 after purchasing an additional 34,747 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

About Novo Nordisk A/S

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.