Novo Nordisk A/S (NYSE:NVO) Upgraded to “Market Perform” at Sanford C. Bernstein

Novo Nordisk A/S (NYSE:NVO) was upgraded by Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a report issued on Monday.

NVO has been the subject of a number of other research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Finally, BMO Capital Markets decreased their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.20.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock traded down $2.39 on Monday, reaching $85.26. 5,344,828 shares of the stock were exchanged, compared to its average volume of 4,406,944. The firm has a market capitalization of $382.61 billion, a PE ratio of 27.59, a PEG ratio of 1.37 and a beta of 0.45. Novo Nordisk A/S has a 1-year low of $81.50 and a 1-year high of $148.15. The business has a fifty day moving average price of $103.06 and a two-hundred day moving average price of $121.08. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently made changes to their positions in NVO. Novare Capital Management LLC grew its holdings in shares of Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after purchasing an additional 85 shares during the last quarter. Steel Grove Capital Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 2.3% in the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after buying an additional 86 shares during the period. Benjamin Edwards Inc. grew its stake in shares of Novo Nordisk A/S by 2.6% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,455 shares of the company’s stock worth $493,000 after purchasing an additional 87 shares during the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of Novo Nordisk A/S by 2.5% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock worth $454,000 after acquiring an additional 94 shares in the last quarter. Finally, Burns J W & Co. Inc. NY increased its position in shares of Novo Nordisk A/S by 1.9% in the third quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock worth $647,000 after acquiring an additional 100 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.