Novo Nordisk A/S (NYSE:NVO) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen has downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating, reflecting a shift in sentiment towards the stock.
• Several analysts, including DBS Bank and HSBC, have issued lower ratings, with HSBC setting a target price of $57.00, while BMO Capital Markets reduced their price objective to $64.00.
• The company reported a net margin of 34.52% and earnings of $0.92 per share, meeting analysts' expectations for the quarter.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Other research analysts have also issued reports about the company. Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. HSBC downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price on the stock. in a report on Thursday. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday. BMO Capital Markets reiterated a "market perform" rating and issued a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Finally, Guggenheim downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of "Hold" and an average price target of $93.67.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $48.23 on Friday. Novo Nordisk A/S has a fifty-two week low of $46.90 and a fifty-two week high of $139.74. The firm's 50 day simple moving average is $69.26 and its 200-day simple moving average is $72.73. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56. The company has a market cap of $215.35 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.41 and a beta of 0.63.

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

Institutional Trading of Novo Nordisk A/S

Institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its stake in shares of 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 last quarter. Bank of America Corp DE lifted its position in shares of Novo Nordisk A/S by 8.1% in the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock worth $1,332,655,000 after buying an additional 1,165,955 shares during the last quarter. Kingstone Capital Partners Texas LLC lifted its position in shares of Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock worth $690,560,000 after buying an additional 10,001,898 shares during the last quarter. Folketrygdfondet boosted its stake 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 worth $661,202,000 after acquiring an additional 617,974 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Novo Nordisk A/S by 1.5% during the 4th quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company's stock valued at $715,084,000 after acquiring an additional 123,681 shares during the last quarter. 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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