BMO Capital Markets Reiterates Outperform Rating for Novo Nordisk A/S (NYSE:NVO)

BMO Capital Markets reiterated their outperform rating on shares of Novo Nordisk A/S (NYSE:NVO) in a report published on Tuesday morning, Benzinga reports. They currently have a $163.00 price target on the stock.

A number of other analysts have also weighed in on the stock. Argus upped their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a buy rating in a report on Monday, June 10th. Cantor Fitzgerald reissued an overweight rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, June 17th. Finally, The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a buy rating and a $156.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $145.67.

Novo Nordisk A/S Stock Down 1.2 %

Novo Nordisk A/S stock opened at $142.81 on Tuesday. The firm has a market capitalization of $640.86 billion, a price-to-earnings ratio of 49.24, a P/E/G ratio of 1.43 and a beta of 0.41. The firm has a 50 day simple moving average of $135.00 and a 200 day simple moving average of $123.35. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $148.15. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The company had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.23 billion. On average, analysts predict that Novo Nordisk A/S will post 3.41 earnings per share for the current year.

Institutional Trading of Novo Nordisk A/S

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bright Futures Wealth Management LLC. purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at $1,963,000. Old Port Advisors purchased a new stake in Novo Nordisk A/S during the first quarter valued at about $537,000. Mosaic Family Wealth Partners LLC bought a new position in shares of Novo Nordisk A/S during the first quarter valued at about $226,000. Cypress Asset Management Inc. TX increased its holdings in shares of Novo Nordisk A/S by 1.2% in the first quarter. Cypress Asset Management Inc. TX now owns 17,916 shares of the company’s stock worth $2,392,000 after buying an additional 221 shares during the period. Finally, Hamilton Wealth LLC lifted its stake in shares of Novo Nordisk A/S by 102.9% in the 1st quarter. Hamilton Wealth LLC now owns 63,856 shares of the company’s stock valued at $8,199,000 after acquiring an additional 32,382 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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.