Zacks Investment Research upgraded shares of Novo Nordisk A/S (NYSE:NVO) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $55.00 price objective on the stock.
According to Zacks, “Novo Nordisk has a strong pipeline, primarily focusing on therapeutic proteins within insulin, GLP-1, blood clotting factors and human growth hormone. The company has a strong presence in the Diabetes care market with a global value market share of 27%. The segment is driven by strong performance of drugs like Victoza, Tresiba, Saxenda and Xultophy among others. Novo Nordisk’s stock movement has outperformed the industry. However, we believe continued growth from Victoza and Tresiba as well as higher contributions from Saxenda and Xultophy will be partly offset by the impact of lower realized prices in the U.S., loss of exclusivity for products in hormone replacement therapy, intensifying competition within the diabetes and biopharmaceuticals markets and macroeconomic conditions in many markets under International Operations.”
Other equities analysts have also issued research reports about the stock. BidaskClub upgraded shares of Novo Nordisk A/S from a hold rating to a buy rating in a research report on Thursday, June 15th. BNP Paribas lowered shares of Novo Nordisk A/S from an outperform rating to a neutral rating in a research report on Monday, September 25th. Finally, Bank of America Corporation upgraded shares of Novo Nordisk A/S from an underperform rating to a neutral rating in a research report on Wednesday, September 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $55.00.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Keel Point LLC lifted its holdings in Novo Nordisk A/S by 0.4% in the 2nd quarter. Keel Point LLC now owns 6,748 shares of the company’s stock valued at $289,000 after acquiring an additional 24 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in Novo Nordisk A/S by 1.1% in the 2nd quarter. AlphaMark Advisors LLC now owns 2,645 shares of the company’s stock valued at $113,000 after acquiring an additional 30 shares during the last quarter. Trillium Asset Management LLC lifted its holdings in Novo Nordisk A/S by 0.4% in the 2nd quarter. Trillium Asset Management LLC now owns 11,928 shares of the company’s stock valued at $512,000 after acquiring an additional 48 shares during the last quarter. Baldwin Investment Management LLC lifted its holdings in Novo Nordisk A/S by 1.4% in the 2nd quarter. Baldwin Investment Management LLC now owns 8,004 shares of the company’s stock valued at $343,000 after acquiring an additional 111 shares during the last quarter. Finally, Garrison Financial Corp lifted its holdings in Novo Nordisk A/S by 1.3% in the 2nd quarter. Garrison Financial Corp now owns 11,675 shares of the company’s stock valued at $501,000 after acquiring an additional 145 shares during the last quarter. 6.01% of the stock is owned by institutional investors.
Novo Nordisk A/S Company Profile
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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