Novo Nordisk A/S (NYSE:NVO) Receives Neutral Rating from The Goldman Sachs Group

Novo Nordisk A/S (NYSE:NVO)‘s stock had its “neutral” rating reiterated by research analysts at The Goldman Sachs Group in a research note issued to investors on Monday,Benzinga reports. They currently have a $41.00 price objective on the stock, down from their previous price objective of $63.00. The Goldman Sachs Group’s price objective indicates a potential upside of 9.34% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. TD Cowen reiterated a “buy” rating on shares of Novo Nordisk A/S in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. restated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Tuesday, February 24th. Nordea Equity Research cut Novo Nordisk A/S to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings raised Novo Nordisk A/S from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, February 5th. Finally, Argus restated a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday, December 8th. Five research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.21.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $37.50 on Monday. Novo Nordisk A/S has a fifty-two week low of $37.31 and a fifty-two week high of $91.90. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.57 and a current ratio of 0.80. The firm has a market capitalization of $167.42 billion, a price-to-earnings ratio of 10.81 and a beta of 0.74. The stock’s 50-day simple moving average is $52.75 and its 200-day simple moving average is $52.88.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.97 billion. Novo Nordisk A/S had a net margin of 33.03% and a return on equity of 68.91%. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NVO. Franklin Resources Inc. raised its holdings in Novo Nordisk A/S by 4,190.8% in the 3rd quarter. Franklin Resources Inc. now owns 13,984,789 shares of the company’s stock worth $776,016,000 after purchasing an additional 13,658,867 shares during the period. Capital International Investors increased its position in shares of Novo Nordisk A/S by 52.4% in the third quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock valued at $982,969,000 after buying an additional 6,092,192 shares in the last quarter. Boston Partners acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $310,199,000. Price T Rowe Associates Inc. MD lifted its position in shares of Novo Nordisk A/S by 99.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock valued at $492,940,000 after buying an additional 4,836,285 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its position in shares of Novo Nordisk A/S by 851.6% during the 4th quarter. Voloridge Investment Management LLC now owns 4,807,279 shares of the company’s stock valued at $244,594,000 after buying an additional 4,302,126 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.