Novo Nordisk A/S (NYSE:NVO) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Novo Nordisk A/S (NYSE:NVO - Free Report) from a buy rating to a strong-buy rating in a report released on Saturday morning.

NVO has been the subject of a number of other reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BNP Paribas raised shares of Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, December 2nd. Finally, BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of "Buy" and a consensus price target of $150.40.

Novo Nordisk A/S Price Performance

Shares of NVO stock traded down $18.44 during trading on Friday, hitting $85.00. The company had a trading volume of 53,564,469 shares, compared to its average volume of 4,737,458. The firm has a market capitalization of $381.44 billion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 1.37 and a beta of 0.40. Novo Nordisk A/S has a one year low of $81.50 and a one 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 $109.01 and its 200 day moving average price is $125.16.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NVO. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. Daiwa Securities Group Inc. acquired a new stake in Novo Nordisk A/S in the third quarter valued at $28,000. Abound Wealth Management raised its position in Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company's stock worth $31,000 after purchasing an additional 157 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Novo Nordisk A/S during the 3rd quarter worth about $42,000. Finally, Atlantic Edge Private Wealth Management LLC increased its stake in shares of Novo Nordisk A/S by 62.5% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 325 shares of the company's stock valued at $46,000 after buying an additional 125 shares during the period. 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.