Jefferies Group Comments on Novo Nordisk A/S’s Q3 2016 Earnings (NVO)
Novo Nordisk A/S (NYSE:NVO) – Equities research analysts at Jefferies Group issued their Q3 2016 earnings per share (EPS) estimates for shares of Novo Nordisk A/S in a research report issued on Thursday. Jefferies Group analyst J. Holford forecasts that the brokerage will post earnings of $0.58 per share for the quarter. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Novo Nordisk A/S’s FY2016 earnings at $2.25 EPS, FY2017 earnings at $2.55 EPS, FY2018 earnings at $2.74 EPS, FY2019 earnings at $2.93 EPS and FY2020 earnings at $3.29 EPS.
NVO has been the subject of a number of other research reports. Piper Jaffray Cos. initiated coverage on Novo Nordisk A/S in a report on Friday, September 23rd. They set a “neutral” rating for the company. Zacks Investment Research lowered Novo Nordisk A/S from a “hold” rating to a “sell” rating in a report on Tuesday, September 6th. Morgan Stanley lowered Novo Nordisk A/S from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 1st. Bank of America Corp. lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Monday, August 8th. Finally, JPMorgan Chase & Co. lowered Novo Nordisk A/S from an “overweight” rating to a “neutral” rating in a report on Friday, September 9th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Novo Nordisk A/S has an average rating of “Buy” and an average target price of $61.33.
Novo Nordisk A/S (NYSE:NVO) opened at 39.58 on Friday. The company has a 50-day moving average of $44.00 and a 200-day moving average of $51.42. Novo Nordisk A/S has a one year low of $39.03 and a one year high of $59.00. The company has a market cap of $100.39 billion, a price-to-earnings ratio of 18.71 and a beta of 0.73.
Hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Novo Nordisk A/S by 0.9% in the first quarter. Royal Bank of Canada now owns 815,990 shares of the company’s stock valued at $44,221,000 after buying an additional 7,249 shares in the last quarter. Princeton Alpha Management LP bought a new stake in shares of Novo Nordisk A/S during the second quarter valued at $407,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter valued at $346,000. Advisory Services Network LLC increased its stake in shares of Novo Nordisk A/S by 28.8% in the second quarter. Advisory Services Network LLC now owns 2,238 shares of the company’s stock valued at $120,000 after buying an additional 500 shares during the last quarter. Finally, Copeland Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 3.2% in the second quarter. Copeland Capital Management LLC now owns 65,818 shares of the company’s stock valued at $3,540,000 after buying an additional 2,056 shares during the last quarter. 7.54% of the stock is owned by institutional investors and hedge funds.
About Novo Nordisk A/S
Novo Nordisk A/S is a healthcare company. The Company is engaged in discovery, development, manufacturing and marketing of pharmaceutical products. The Company’s business segments include diabetes and obesity care, and biopharmaceuticals. The diabetes and obesity care segment covers insulins, glucagon-like peptide-1 (GLP-1), other protein-related products (such as glucagon, protein-related delivery systems and needles), oral anti-diabetic drugs and obesity.
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