Novo Nordisk A/S (NYSE:NVO) Rating Increased to Buy at Rothschild & Co Redburn

Key Points

• Rothschild & Co Redburn has upgraded Novo Nordisk A/S from a "neutral" rating to a "buy" rating, indicating a more favorable outlook on the stock.
• Several analysts have issued mixed ratings on Novo Nordisk, with five recommending a buy, eleven assigning a hold, and one issuing a sell rating, resulting in a consensus rating of "hold."
• Novo Nordisk A/S reported earnings of $0.97 per share for its recent quarter, surpassing the consensus estimate of $0.93.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) was upgraded by Rothschild & Co Redburn from a "neutral" rating to a "buy" rating in a report issued on Tuesday,Briefing.com Automated Import reports.

Several other research firms have also issued reports on NVO. Hsbc Global Res lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Wall Street Zen lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Sanford C. Bernstein upgraded Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 9th. BNP Paribas Exane upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price objective on the stock in a research report on Wednesday, August 13th. Finally, Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of "Hold" and a consensus price target of $81.00.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $55.62 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $248.34 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.66. The business's 50-day moving average price is $57.69 and its 200-day moving average price is $65.92. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $138.22.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $77.51 billion. Sell-side 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

A number of institutional investors have recently added to or reduced their stakes in NVO. Copeland Capital Management LLC raised its holdings in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. bought a new position in Novo Nordisk A/S in the first quarter worth $27,000. Park Square Financial Group LLC bought a new position in Novo Nordisk A/S in the fourth quarter worth $29,000. Stone House Investment Management LLC bought a new position in Novo Nordisk A/S in the first quarter worth $30,000. Finally, NewSquare Capital LLC boosted its holdings in Novo Nordisk A/S by 174.1% in the second quarter. NewSquare Capital LLC now owns 444 shares of the company's stock worth $31,000 after acquiring an additional 282 shares in the last quarter. Institutional investors own 11.54% of the company's stock.

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.

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