Novo Nordisk A/S (NYSE:NVO) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Novo Nordisk A/S was upgraded by Zacks Research to a "hold" rating, a significant change from its previous "strong sell" rating.
• Multiple analysts have similarly adjusted their ratings on Novo Nordisk, with results indicating a current consensus rating of "Hold" and an average price target of $75.33.
• The company reported $11.69 billion in revenue for its last quarter, surpassing analysts' expectations, while the earnings per share came in at $0.97.

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

Other equities analysts have also recently issued reports about the stock. HSBC cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target on the stock. in a research report on Thursday, July 31st. Dbs Bank upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $75.33.

Novo Nordisk A/S Trading Up 0.0%

Shares of NYSE NVO opened at $55.52 on Monday. The company's fifty day moving average is $55.62 and its 200-day moving average is $64.17. The stock has a market cap of $247.90 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 2.10 and a beta of 0.66. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $120.56. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share 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 analysts' expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of hedge funds have recently modified their holdings of NVO. Kingstone Capital Partners Texas LLC grew its holdings 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 valued at $690,560,000 after purchasing an additional 10,001,898 shares during the period. Nuveen LLC purchased a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $370,272,000. Amundi lifted its position in Novo Nordisk A/S by 49.1% in the first quarter. Amundi now owns 4,938,507 shares of the company's stock valued at $331,576,000 after buying an additional 1,627,051 shares during the last quarter. Bank of Montreal Can lifted its position in Novo Nordisk A/S by 101.4% in the second quarter. Bank of Montreal Can now owns 2,475,300 shares of the company's stock valued at $170,845,000 after buying an additional 1,246,467 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in Novo Nordisk A/S by 15,919.9% in the first 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 last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.