Brokerages Set Novo Nordisk A/S (NVO) PT at $64.00
Novo Nordisk A/S (NYSE:NVO) has received an average rating of “Hold” from the sixteen research firms that are presently covering the firm. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $64.00.
Several equities research analysts recently commented on NVO shares. HSBC raised Novo Nordisk A/S from a “reduce” rating to a “hold” rating in a report on Wednesday, August 31st. Deutsche Bank AG raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Monday, September 12th. Jefferies Group reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a report on Wednesday, September 14th. Morgan Stanley lowered Novo Nordisk A/S from an “overweight” rating to an “equal weight” rating in a research report on Thursday, September 1st. Finally, Bank of America Corp. lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Monday, August 8th.
Novo Nordisk A/S (NYSE:NVO) opened at 32.25 on Thursday. The stock has a 50 day moving average price of $37.45 and a 200 day moving average price of $47.74. Novo Nordisk A/S has a 52-week low of $32.19 and a 52-week high of $59.00. The company has a market capitalization of $81.48 billion, a price-to-earnings ratio of 14.96 and a beta of 0.84.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its position in Novo Nordisk A/S by 16.4% in the second quarter. Jennison Associates LLC now owns 17,400,801 shares of the company’s stock valued at $935,815,000 after buying an additional 2,452,120 shares in the last quarter. Sustainable Growth Advisers LP raised its position in Novo Nordisk A/S by 34,479.6% in the third quarter. Sustainable Growth Advisers LP now owns 1,864,530 shares of the company’s stock worth $77,546,000 after buying an additional 1,859,138 shares during the period. Morgan Stanley raised its position in Novo Nordisk A/S by 88.6% in the third quarter. Morgan Stanley now owns 3,012,074 shares of the company’s stock worth $125,273,000 after buying an additional 1,415,016 shares during the period. The Manufacturers Life Insurance Company bought a new position in Novo Nordisk A/S during the third quarter worth about $51,330,000. Finally, Credit Suisse AG bought a new position in Novo Nordisk A/S during the third quarter worth about $34,593,000. Institutional investors and hedge funds own 7.14% of the company’s stock.
Novo Nordisk A/S Company Profile
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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