Novo Nordisk A/S (NYSE:NVO) Raised to "Market Perform" at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Novo Nordisk A/S (NYSE:NVO - Free Report) from an underperform rating to a market perform rating in a research report released on Monday, Marketbeat.com reports.

Several other analysts have also recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BNP Paribas upgraded Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, December 2nd. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday, December 23rd. Finally, StockNews.com lowered Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research note on Sunday, December 29th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.20.

Novo Nordisk A/S Price Performance

Shares of NVO traded down $2.70 during midday trading on Monday, hitting $84.95. 10,684,381 shares of the company traded hands, compared to its average volume of 6,338,306. Novo Nordisk A/S has a one year low of $81.50 and a one year high of $148.15. The firm has a market cap of $381.22 billion, a P/E ratio of 27.49, a PEG ratio of 1.37 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a 50-day moving average of $103.06 and a 200-day moving average of $121.08.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently modified their holdings of NVO. Doliver Advisors LP boosted its stake in Novo Nordisk A/S by 54.5% in the fourth quarter. Doliver Advisors LP now owns 16,225 shares of the company's stock worth $1,396,000 after buying an additional 5,721 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Novo Nordisk A/S in the 4th quarter worth approximately $2,722,000. Versant Capital Management Inc purchased a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at $86,000. Confluence Investment Management LLC grew its holdings in shares of Novo Nordisk A/S by 2.2% during the 4th quarter. Confluence Investment Management LLC now owns 10,274 shares of the company's stock valued at $884,000 after purchasing an additional 220 shares during the last quarter. Finally, American Trust raised its position in Novo Nordisk A/S by 139.1% in the 3rd quarter. American Trust now owns 12,725 shares of the company's stock worth $1,515,000 after purchasing an additional 7,402 shares during the period. 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.