HSBC reaffirmed their sell rating on shares of Novo Nordisk A/S (NYSE:NVO) in a research note published on Tuesday.
A number of other research analysts have also issued reports on the stock. Deutsche Bank restated a buy rating on shares of Novo Nordisk A/S in a research note on Thursday, October 4th. Guggenheim initiated coverage on shares of Novo Nordisk A/S in a research note on Monday, October 8th. They set a buy rating on the stock. Bank of America lowered shares of Novo Nordisk A/S from a buy rating to a neutral rating in a research note on Monday, October 8th. Pareto Securities lowered shares of Novo Nordisk A/S from a buy rating to a hold rating in a research note on Friday, October 5th. Finally, Zacks Investment Research lowered shares of Novo Nordisk A/S from a buy rating to a sell rating in a research note on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $64.00.
Shares of Novo Nordisk A/S stock opened at $43.15 on Tuesday. Novo Nordisk A/S has a 12-month low of $41.23 and a 12-month high of $58.37. The company has a market cap of $106.83 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 2.31 and a beta of 0.76.
Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.04. Novo Nordisk A/S had a net margin of 34.94% and a return on equity of 81.50%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.33 billion. Equities research analysts expect that Novo Nordisk A/S will post 2.44 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in NVO. Chicago Partners Investment Group LLC boosted its holdings in shares of Novo Nordisk A/S by 762.5% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 3,131 shares of the company’s stock valued at $144,000 after acquiring an additional 2,768 shares during the last quarter. Schroder Investment Management Group purchased a new stake in Novo Nordisk A/S during the second quarter worth $182,000. Legacy Financial Advisors Inc. boosted its holdings in Novo Nordisk A/S by 527.8% during the third quarter. Legacy Financial Advisors Inc. now owns 3,886 shares of the company’s stock worth $183,000 after buying an additional 3,267 shares in the last quarter. Stevens Capital Management LP purchased a new stake in Novo Nordisk A/S during the second quarter worth $202,000. Finally, FineMark National Bank & Trust purchased a new stake in Novo Nordisk A/S during the third quarter worth $212,000. 6.72% of the stock is currently owned by institutional investors and hedge funds.
Novo Nordisk A/S Company Profile
Novo Nordisk A/S, a healthcare company, engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides insulins, GLP-1 and related delivery systems, and oral anti-diabetic drugs and obesity.
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