Novo Nordisk A/S (NYSE:NVO) Receives $140.20 Average Price Target from Analysts

Shares of Novo Nordisk A/S (NYSE:NVO) have been assigned an average recommendation of “Buy” from the eight research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $140.20.

A number of equities research analysts recently issued reports on NVO shares. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, BMO Capital Markets cut their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd.

Institutional Trading of Novo Nordisk A/S

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Novare Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 3.2% during the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after buying an additional 85 shares during the last quarter. Steel Grove Capital Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after buying an additional 86 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Novo Nordisk A/S by 2.6% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,455 shares of the company’s stock worth $493,000 after buying an additional 87 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in Novo Nordisk A/S by 2.5% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock valued at $454,000 after purchasing an additional 94 shares in the last quarter. Finally, Burns J W & Co. Inc. NY increased its holdings in Novo Nordisk A/S by 1.9% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock valued at $647,000 after purchasing an additional 100 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

NVO stock opened at $81.27 on Wednesday. Novo Nordisk A/S has a 1 year low of $80.05 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The stock’s 50 day moving average price is $99.26 and its 200 day moving average price is $118.18. The firm has a market cap of $364.70 billion, a P/E ratio of 26.30, a PEG ratio of 1.37 and a beta of 0.45.

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.