Novo Nordisk A/S (NYSE:NVO) Receives Average Recommendation of “Moderate Buy” from Analysts

Novo Nordisk A/S (NYSE:NVO) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $133.60.

NVO has been the topic of a number of research reports. UBS Group started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. BMO Capital Markets began coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 target price for the company. Finally, Morgan Stanley started coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price target for the company.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $127.28 on Friday. The stock has a market capitalization of $571.17 billion, a price-to-earnings ratio of 43.89, a PEG ratio of 1.93 and a beta of 0.43. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The business’s fifty day moving average price is $127.33 and its 200-day moving average price is $113.50. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $138.28.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds and other institutional investors have recently made changes to their positions in the company. New Republic Capital LLC lifted its position in shares of Novo Nordisk A/S by 7.4% during the first quarter. New Republic Capital LLC now owns 2,570 shares of the company’s stock worth $330,000 after purchasing an additional 176 shares during the last quarter. Williams Jones Wealth Management LLC. lifted its position in Novo Nordisk A/S by 10.9% during the first quarter. Williams Jones Wealth Management LLC. now owns 5,722 shares of the company’s stock valued at $735,000 after acquiring an additional 564 shares during the last quarter. Semus Wealth Partners LLC acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter worth $222,000. NorthRock Partners LLC boosted its holdings in Novo Nordisk A/S by 41.1% in the first quarter. NorthRock Partners LLC now owns 3,890 shares of the company’s stock worth $499,000 after acquiring an additional 1,134 shares in the last quarter. Finally, Choate Investment Advisors grew its position in Novo Nordisk A/S by 2.2% during the 1st quarter. Choate Investment Advisors now owns 44,234 shares of the company’s stock worth $5,680,000 after purchasing an additional 957 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Company Profile

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.