Novo Nordisk A/S (NYSE:NVO) Upgraded by Hsbc Global Res to Strong-Buy Rating

Novo Nordisk A/S (NYSE:NVO) was upgraded by research analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on the stock. Morgan Stanley cut shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $59.00 to $47.00 in a report on Monday. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. Finally, Rothschild Redb raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average target price of $77.50.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $58.77 on Wednesday. The stock has a market cap of $262.42 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68. The firm’s fifty day simple moving average is $55.16 and its 200 day simple moving average is $63.98. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $120.56. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. As a group, research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Institutional Inflows and Outflows

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