Cantor Fitzgerald Reiterates “Overweight” Rating for Novo Nordisk A/S (NYSE:NVO)

Novo Nordisk A/S (NYSE:NVO)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research report issued on Thursday, Benzinga reports. They presently have a $160.00 price objective on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 29.09% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. UBS Group started coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating on the stock. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a report on Friday, April 12th. They issued an “outperform” rating and a $163.00 target price for the company. Finally, Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.60.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $0.59 during midday trading on Thursday, hitting $123.94. The company’s stock had a trading volume of 512,260 shares, compared to its average volume of 4,847,884. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $138.28. The firm has a market capitalization of $556.18 billion, a price-to-earnings ratio of 45.69, a P/E/G ratio of 2.06 and a beta of 0.41. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $126.28 and a 200 day moving average price of $110.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. The company had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. On average, research analysts forecast that Novo Nordisk A/S will post 3.33 EPS for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

Several institutional investors and hedge funds have recently bought and sold shares of NVO. Roundview Capital LLC lifted its stake in shares of Novo Nordisk A/S by 0.6% in the 1st quarter. Roundview Capital LLC now owns 18,803 shares of the company’s stock valued at $2,088,000 after purchasing an additional 106 shares during the period. BlackRock Inc. raised its holdings in Novo Nordisk A/S by 45.4% in the 1st quarter. BlackRock Inc. now owns 5,035,879 shares of the company’s stock valued at $559,235,000 after acquiring an additional 1,571,747 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Novo Nordisk A/S by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 739,585 shares of the company’s stock valued at $82,131,000 after purchasing an additional 6,903 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Novo Nordisk A/S by 12.7% in the first quarter. Blair William & Co. IL now owns 19,466 shares of the company’s stock valued at $2,136,000 after purchasing an additional 2,194 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Novo Nordisk A/S by 17.5% during the first quarter. Sei Investments Co. now owns 107,175 shares of the company’s stock worth $11,913,000 after buying an additional 15,996 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Company Profile

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.