Novo Nordisk A/S (NYSE:NVO) Downgraded by UBS Group

UBS Group cut shares of Novo Nordisk A/S (NYSE:NVO) from a buy rating to a neutral rating in a report issued on Monday morning, The Fly reports.

A number of other research firms also recently weighed in on NVO. Jefferies Financial Group downgraded shares of Novo Nordisk A/S from a hold rating to an underperform rating in a research report on Friday, August 30th. Citigroup raised shares of Novo Nordisk A/S from a neutral rating to a buy rating in a research report on Tuesday, September 17th. Pareto Securities raised shares of Novo Nordisk A/S from a hold rating to a buy rating in a research report on Monday, August 5th. Bank of America raised their price target on shares of Novo Nordisk A/S from $355.00 to $400.00 and gave the stock a neutral rating in a research report on Friday, September 13th. Finally, Barclays raised shares of Novo Nordisk A/S from an equal weight rating to an overweight rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $159.65.

Shares of NVO stock traded down $0.55 during mid-day trading on Monday, reaching $53.91. 34,024 shares of the company were exchanged, compared to its average volume of 1,426,456. Novo Nordisk A/S has a fifty-two week low of $43.60 and a fifty-two week high of $58.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 1.00. The company has a market capitalization of $135.64 billion, a P/E ratio of 21.38, a P/E/G ratio of 2.30 and a beta of 0.61. The business’s 50 day simple moving average is $54.20 and its 200 day simple moving average is $51.06.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Friday, November 1st. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Novo Nordisk A/S had a net margin of 32.44% and a return on equity of 75.48%. The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.55 billion. On average, analysts forecast that Novo Nordisk A/S will post 2.45 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in Novo Nordisk A/S by 5.5% during the second quarter. Renaissance Technologies LLC now owns 22,521,916 shares of the company’s stock worth $1,149,519,000 after purchasing an additional 1,177,000 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Novo Nordisk A/S by 2.1% in the third quarter. Fisher Asset Management LLC now owns 15,211,300 shares of the company’s stock valued at $786,424,000 after buying an additional 310,066 shares during the last quarter. Fayez Sarofim & Co lifted its stake in Novo Nordisk A/S by 0.3% in the second quarter. Fayez Sarofim & Co now owns 4,484,978 shares of the company’s stock valued at $228,913,000 after buying an additional 13,726 shares during the last quarter. Sustainable Growth Advisers LP lifted its stake in Novo Nordisk A/S by 2.5% in the second quarter. Sustainable Growth Advisers LP now owns 3,627,615 shares of the company’s stock valued at $185,153,000 after buying an additional 89,413 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in Novo Nordisk A/S by 1.2% in the second quarter. Parametric Portfolio Associates LLC now owns 2,029,602 shares of the company’s stock valued at $103,591,000 after buying an additional 24,211 shares during the last quarter. Hedge funds and other institutional investors own 7.30% of the company’s stock.

About Novo Nordisk A/S

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

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Analyst Recommendations for Novo Nordisk A/S (NYSE:NVO)

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