Novo Nordisk A/S (NYSE:NVO) Rating Increased to Buy at HSBC

Key Points

• HSBC upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating, reflecting a positive outlook for the stock.
• The consensus rating for Novo Nordisk A/S currently stands at "Hold", with a price target averaging $75.33.
• Novo Nordisk reported earnings per share of $0.97 for the last quarter, exceeding analysts' expectations of $0.93.

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

Several other equities research analysts have also recently weighed in on NVO. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Berenberg Bank upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Wednesday, September 17th. Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Morgan Stanley cut Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and dropped their price target for the company from $59.00 to $47.00 in a research note on Monday. Finally, Zacks Research upgraded Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $75.33.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock traded up $3.33 on Wednesday, hitting $58.82. The stock had a trading volume of 14,142,001 shares, compared to its average volume of 12,107,247. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $120.56. The business's 50 day moving average is $55.62 and its two-hundred day moving average is $64.17. 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 stock has a market cap of $262.61 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 2.10 and a beta of 0.66.

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

Institutional Trading of Novo Nordisk A/S

Large investors have recently made changes to their positions in the company. Unified Investment Management acquired a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at about $692,000. Acadian Asset Management LLC grew its stake in shares of Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock valued at $72,523,000 after buying an additional 1,038,137 shares during the period. Norden Group LLC grew its stake in shares of Novo Nordisk A/S by 216.3% in the 2nd quarter. Norden Group LLC now owns 96,332 shares of the company's stock valued at $6,649,000 after buying an additional 65,877 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Novo Nordisk A/S by 48.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company's stock valued at $7,119,000 after buying an additional 33,794 shares during the period. Finally, Ridgewood Investments LLC grew its stake in shares of Novo Nordisk A/S by 205.4% in the 2nd quarter. Ridgewood Investments LLC now owns 6,627 shares of the company's stock valued at $457,000 after buying an additional 4,457 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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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