Novo Nordisk A/S (NYSE:NVO) Cut to Strong Sell at Zacks Research

Novo Nordisk A/S (NYSE:NVO) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Several other brokerages have also recently issued reports on NVO. Weiss Ratings cut shares of Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 22nd. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Sanford C. Bernstein assumed coverage on Novo Nordisk A/S in a research note on Wednesday, March 18th. They set an “outperform” rating and a $175.00 price objective on the stock. Wolfe Research assumed coverage on Novo Nordisk A/S in a research report on Thursday, March 26th. They set a “peer perform” rating on the stock. Finally, HSBC reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $65.56.

Novo Nordisk A/S Trading Down 0.3%

Shares of NVO opened at $49.12 on Monday. The company’s fifty day moving average is $45.80 and its 200 day moving average is $45.81. Novo Nordisk A/S has a fifty-two week low of $35.12 and a fifty-two week high of $71.79. The stock has a market capitalization of $219.31 billion, a PE ratio of 11.53, a P/E/G ratio of 4.50 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The business had revenue of $10.85 billion during the quarter. Sell-side analysts expect that Novo Nordisk A/S will post 3.38 earnings per share for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. bought a new position in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $25,000. Scarborough Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $26,000. WealthCollab LLC lifted its stake in shares of Novo Nordisk A/S by 93.5% during the 4th quarter. WealthCollab LLC now owns 538 shares of the company’s stock worth $27,000 after acquiring an additional 260 shares during the last quarter. American National Bank & Trust purchased a new position in Novo Nordisk A/S during the 4th quarter valued at $28,000. Finally, Maseco LLP bought a new position in Novo Nordisk A/S in the 4th quarter valued at $29,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

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.