JPMorgan Chase & Co. upgraded shares of Novo Nordisk A/S (NYSE:NVO) from an underweight rating to a neutral rating in a report issued on Friday, December 29th, Marketbeat reports.
Other equities analysts have also issued reports about the stock. Morgan Stanley raised shares of Novo Nordisk A/S from an equal weight rating to an overweight rating in a report on Friday, December 1st. Zacks Investment Research raised shares of Novo Nordisk A/S from a hold rating to a buy rating and set a $55.00 price target on the stock in a research note on Tuesday, September 19th. Bank of America raised shares of Novo Nordisk A/S from a neutral rating to a buy rating in a research note on Wednesday, December 6th. Finally, BNP Paribas cut shares of Novo Nordisk A/S from an outperform rating to a neutral rating in a research note on Monday, September 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $60.00.
Shares of Novo Nordisk A/S (NYSE NVO) opened at $55.04 on Friday. Novo Nordisk A/S has a 1-year low of $32.83 and a 1-year high of $55.11. The firm has a market cap of $107,500.00, a PE ratio of 22.02, a PEG ratio of 3.07 and a beta of 0.66.
In other Novo Nordisk A/S news, insider Eric S. Sprott purchased 50,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were bought at an average cost of $8.34 per share, for a total transaction of $417,000.00. 0.07% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its holdings in Novo Nordisk A/S by 3.7% in the third quarter. Fisher Asset Management LLC now owns 12,124,724 shares of the company’s stock valued at $583,806,000 after purchasing an additional 433,727 shares in the last quarter. Folketrygdfondet boosted its holdings in Novo Nordisk A/S by 4.4% in the third quarter. Folketrygdfondet now owns 7,217,043 shares of the company’s stock valued at $347,501,000 after purchasing an additional 302,851 shares in the last quarter. Northern Trust Corp boosted its holdings in Novo Nordisk A/S by 0.5% in the second quarter. Northern Trust Corp now owns 1,975,217 shares of the company’s stock valued at $84,717,000 after purchasing an additional 9,319 shares in the last quarter. Saratoga Research & Investment Management boosted its holdings in Novo Nordisk A/S by 1.9% in the third quarter. Saratoga Research & Investment Management now owns 1,495,556 shares of the company’s stock valued at $72,011,000 after purchasing an additional 28,553 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Novo Nordisk A/S by 9.9% in the third quarter. Parametric Portfolio Associates LLC now owns 1,436,778 shares of the company’s stock valued at $69,181,000 after acquiring an additional 129,364 shares during the period. Hedge funds and other institutional investors own 6.17% of the company’s stock.
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Novo Nordisk A/S Company Profile
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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