Zacks Investment Research upgraded shares of Novo Nordisk A/S (NYSE:NVO) from a sell rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Novo Nordisk reported in line earnings but beat sales estimates in third-quarter 2018. However, the company remains optimistic about Ozempic and results for oral semaglutide. It is looking forward to make the first oral GLP-1 treatment available for people with type II diabetes. The company also made someorganizational changes aimed at boosting innovation in its R&D organization and redirecting resources in other parts of the organization to drive growth further. The company’s acquisition of Ziylo will provide it with the latter’s synthetic glucose binding molecules that will enable it todevelop glucose responsive insulins. The company’s expansion of its biopharm business also bodes well.Shares of the company underperformed the industry year to date.”
Several other brokerages have also recently commented on NVO. Deutsche Bank restated a buy rating on shares of Novo Nordisk A/S in a report on Thursday, October 4th. HSBC restated a sell rating on shares of Novo Nordisk A/S in a report on Tuesday, November 6th. UBS Group restated a buy rating on shares of Novo Nordisk A/S in a report on Monday, November 26th. Guggenheim initiated coverage on shares of Novo Nordisk A/S in a report on Monday, October 8th. They set a buy rating for the company. Finally, ValuEngine upgraded shares of Novo Nordisk A/S from a sell rating to a hold rating in a report on Saturday, October 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $64.00.
Shares of NVO opened at $45.64 on Tuesday. Novo Nordisk A/S has a 12 month low of $41.23 and a 12 month high of $58.37. The firm has a market cap of $111.62 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 2.41 and a beta of 0.75.
Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Thursday, November 1st. The company reported $0.58 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. Novo Nordisk A/S had a net margin of 34.94% and a return on equity of 81.50%. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Analysts forecast that Novo Nordisk A/S will post 2.45 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. Jacobi Capital Management LLC lifted its stake in Novo Nordisk A/S by 241.3% in the third quarter. Jacobi Capital Management LLC now owns 2,577 shares of the company’s stock valued at $121,000 after acquiring an additional 1,822 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in Novo Nordisk A/S by 762.5% in the second 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 acquired a new stake in Novo Nordisk A/S in the second quarter valued at $182,000. Legacy Financial Advisors Inc. lifted its stake in Novo Nordisk A/S by 527.8% in the third quarter. Legacy Financial Advisors Inc. now owns 3,886 shares of the company’s stock valued at $183,000 after acquiring an additional 3,267 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new stake in Novo Nordisk A/S in the second quarter valued at $202,000. Hedge funds and other institutional investors own 6.84% of the company’s stock.
About Novo Nordisk A/S
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.
See Also: Moving Average – How it Helps Investors in Stock Selection
Get a free copy of the Zacks research report on Novo Nordisk A/S (NVO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Novo Nordisk A/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novo Nordisk A/S and related companies with MarketBeat.com's FREE daily email newsletter.