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

Novo Nordisk A/S (NYSE:NVO)‘s stock had its “market perform” rating reaffirmed by research analysts at BMO Capital Markets in a research note issued to investors on Thursday,Benzinga reports. They currently have a $64.00 price target on the stock, down from their prior price target of $105.00. BMO Capital Markets’ target price suggests a potential upside of 1.78% from the company’s previous close.

A number of other research firms have also recently issued reports on NVO. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. BNP Paribas began coverage on shares of Novo Nordisk A/S in a report on Tuesday. They set an “underperform” rating on the stock. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $135.00.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $62.88 on Thursday. The stock has a fifty day moving average of $76.55 and a 200-day moving average of $92.55. Novo Nordisk A/S has a fifty-two week low of $58.95 and a fifty-two week high of $148.15. The stock has a market cap of $282.18 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. Equities research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NVO. Dover Advisors LLC purchased a new position in Novo Nordisk A/S in the 1st quarter worth $505,000. Everpar Advisors LLC increased its position in shares of Novo Nordisk A/S by 21.5% during the first quarter. Everpar Advisors LLC now owns 4,115 shares of the company’s stock worth $286,000 after purchasing an additional 728 shares in the last quarter. Southland Equity Partners LLC raised its position in shares of Novo Nordisk A/S by 6.1% in the first quarter. Southland Equity Partners LLC now owns 6,278 shares of the company’s stock valued at $436,000 after buying an additional 362 shares during the last quarter. Tritonpoint Wealth LLC lifted its position in Novo Nordisk A/S by 5.2% during the first quarter. Tritonpoint Wealth LLC now owns 16,378 shares of the company’s stock worth $1,155,000 after buying an additional 806 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV acquired a new stake in Novo Nordisk A/S during the first quarter worth about $3,717,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.