Novo Nordisk A/S (NYSE:NVO) Upgraded by Hsbc Global Res to "Strong-Buy" Rating

Key Points

• Novo Nordisk A/S has been upgraded by Hsbc Global Res from a "hold" rating to a "strong-buy" rating, indicating increased investor confidence in the stock.
• The company's stock price increased by 6.6%, currently opening at $59.15, with an average price target of $77.50.
• Following the upgrade, a total of two analysts have issued a "Strong Buy" rating, while the consensus rating remains "Moderate Buy" based on multiple recent assessments.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) was upgraded by analysts at Hsbc Global Res from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

NVO has been the topic of a number of other research reports. Rothschild Redb raised shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 16th. Sanford C. Bernstein raised Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 9th. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. TD Cowen cut their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, August 19th. Finally, Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $77.50.

Novo Nordisk A/S Stock Up 6.6%

NVO stock opened at $59.15 on Wednesday. The firm has a market cap of $264.08 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.13 and a beta of 0.68. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $120.56. The firm has a fifty day moving average price of $55.40 and a two-hundred day moving average price of $64.13. 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 (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 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 the consensus estimate of $77.51 billion. Research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently made changes to their positions in NVO. Copeland Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after acquiring an additional 255 shares during the period. North Capital Inc. bought a new position in Novo Nordisk A/S during the 1st quarter valued at $27,000. Stone House Investment Management LLC bought a new position in Novo Nordisk A/S during the 1st quarter valued at $30,000. NewSquare Capital LLC increased its position in shares of Novo Nordisk A/S by 174.1% during the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company's stock valued at $31,000 after purchasing an additional 282 shares during the period. Finally, Disciplina Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock worth $33,000 after buying an additional 297 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.

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