TD Cowen Has Lowered Expectations for Novo Nordisk A/S (NYSE:NVO) Stock Price

Key Points

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Novo Nordisk A/S (NYSE:NVO - Get Free Report) had its price objective decreased by equities research analysts at TD Cowen from $105.00 to $70.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's target price points to a potential upside of 27.38% from the stock's current price.

NVO has been the subject of several other reports. Dbs Bank lowered shares of Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. BNP Paribas Exane upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price on the stock in a research note on Wednesday, August 13th. Wall Street Zen lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of "Hold" and a consensus target price of $81.00.

Novo Nordisk A/S Stock Performance

NYSE NVO traded up $1.20 on Tuesday, reaching $54.95. 7,658,584 shares of the stock were exchanged, compared to its average volume of 11,570,110. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $139.74. The firm has a market capitalization of $245.37 billion, a PE ratio of 15.10, a PEG ratio of 1.80 and a beta of 0.63. The company's 50-day simple moving average is $64.52 and its two-hundred day simple moving average is $70.02. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.97 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 analysts' expectations of $77.51 billion. Analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVO. Revolve Wealth Partners LLC lifted its stake in Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock valued at $214,000 after buying an additional 200 shares during the last quarter. First Trust Advisors LP grew its holdings in Novo Nordisk A/S by 845.7% during the fourth quarter. First Trust Advisors LP now owns 579,653 shares of the company's stock worth $49,862,000 after acquiring an additional 518,361 shares during the period. Natixis grew its holdings in Novo Nordisk A/S by 966.7% during the fourth quarter. Natixis now owns 27,798 shares of the company's stock worth $2,391,000 after acquiring an additional 25,192 shares during the period. MML Investors Services LLC grew its holdings in Novo Nordisk A/S by 1.9% during the fourth quarter. MML Investors Services LLC now owns 274,230 shares of the company's stock worth $23,589,000 after acquiring an additional 4,983 shares during the period. Finally, Transce3nd LLC acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at $33,000. 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.

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