Novo Nordisk A/S (NYSE:NVO) Earns Neutral Rating from The Goldman Sachs Group

Novo Nordisk A/S (NYSE:NVO)‘s stock had its “neutral” rating reaffirmed by equities researchers at The Goldman Sachs Group in a research note issued to investors on Monday,Benzinga reports. They presently have a $41.00 price target on the stock, down from their prior price target of $63.00. The Goldman Sachs Group’s target price suggests a potential upside of 9.34% from the company’s previous close.

NVO has been the topic of several other research reports. Nordea Equity Research downgraded shares of Novo Nordisk A/S to a “hold” rating in a research note on Tuesday, February 24th. Kepler Capital Markets lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, February 23rd. Jefferies Financial Group raised Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a research note on Thursday, February 12th. Finally, CICC Research began coverage on Novo Nordisk A/S in a report on Friday, January 9th. They issued an “outperform” rating and a $73.50 price target on the stock. Five investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.21.

Novo Nordisk A/S Trading Down 0.3%

Shares of NVO stock opened at $37.50 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.57 and a current ratio of 0.80. The stock has a fifty day simple moving average of $52.75 and a two-hundred day simple moving average of $52.88. The firm has a market capitalization of $167.42 billion, a PE ratio of 10.81 and a beta of 0.74. Novo Nordisk A/S has a 52-week low of $37.31 and a 52-week high of $91.90.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Novo Nordisk A/S had a net margin of 33.03% and a return on equity of 68.91%. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $11.97 billion. On average, analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVO. MidFirst Bank bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $381,000. SG Trading Solutions LLC purchased a new stake in Novo Nordisk A/S during the fourth quarter valued at approximately $401,000. Sunbelt Securities Inc. boosted its stake in Novo Nordisk A/S by 1.5% in the fourth quarter. Sunbelt Securities Inc. now owns 21,316 shares of the company’s stock valued at $1,085,000 after acquiring an additional 323 shares in the last quarter. White Knight Strategic Wealth Advisors LLC acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at approximately $732,000. Finally, Hamilton Wealth LLC purchased a new position in Novo Nordisk A/S in the fourth quarter worth $545,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.