Novo Nordisk A/S (NYSE:NVO) Stock Rating Reaffirmed by Cantor Fitzgerald

Novo Nordisk A/S (NYSE:NVO)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued on Thursday, Benzinga reports. They presently have a $160.00 price target on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 30.40% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. UBS Group began coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating on the stock. BMO Capital Markets began coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They issued an “outperform” rating and a $163.00 price objective for the company. Finally, Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.60.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $122.70 on Thursday. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $138.28. The stock has a market cap of $550.62 billion, a price-to-earnings ratio of 45.36, a PEG ratio of 2.08 and a beta of 0.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. The firm’s 50-day simple moving average is $126.39 and its 200 day simple moving average is $110.72.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The business had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.14 billion. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novo Nordisk A/S

Large investors have recently modified their holdings of the stock. Jennison Associates LLC grew its stake in Novo Nordisk A/S by 100.3% in the 3rd quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock valued at $2,129,761,000 after buying an additional 11,727,507 shares in the last quarter. FMR LLC grew its stake in Novo Nordisk A/S by 122.7% in the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock valued at $1,098,328,000 after buying an additional 6,654,614 shares in the last quarter. Fayez Sarofim & Co grew its stake in Novo Nordisk A/S by 1.8% in the 4th quarter. Fayez Sarofim & Co now owns 11,814,051 shares of the company’s stock valued at $1,222,164,000 after buying an additional 210,087 shares in the last quarter. Morgan Stanley grew its stake in Novo Nordisk A/S by 96.5% in the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after buying an additional 4,526,199 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in Novo Nordisk A/S by 91.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock valued at $827,354,000 after buying an additional 4,350,862 shares in the last quarter. 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.