Novo Nordisk A/S (NYSE:NVO) Raised to Buy at HSBC

Novo Nordisk A/S (NYSE:NVO) was upgraded by research analysts at HSBC from a “hold” rating to a “buy” rating in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $70.00 price objective on the stock. HSBC’s price objective indicates a potential upside of 19.10% from the stock’s current price.

Several other research analysts have also commented on NVO. Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. TD Cowen dropped their price objective on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, August 19th. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Dbs Bank raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Hsbc Global Res lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.50.

Novo Nordisk A/S Trading Down 0.7%

Shares of NVO opened at $58.77 on Wednesday. The company’s fifty day moving average is $55.16 and its 200 day moving average is $63.98. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $120.56. The stock has a market capitalization of $262.42 billion, a PE ratio of 16.15, a P/E/G ratio of 2.27 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The company had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

Hedge funds have recently added to or reduced their stakes in the business. Copeland Capital Management LLC raised its holdings in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. acquired a new position in Novo Nordisk A/S in the 1st quarter worth approximately $27,000. Stone House Investment Management LLC acquired a new position in Novo Nordisk A/S in the 1st quarter worth approximately $30,000. NewSquare Capital LLC grew its stake in shares of Novo Nordisk A/S by 174.1% during the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after purchasing an additional 282 shares during the period. Finally, Disciplina Capital Management LLC grew its stake in shares of Novo Nordisk A/S by 162.3% during the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after purchasing an additional 297 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

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.