Novo Nordisk A/S (NVO) Raised to “Buy” at Zacks Investment Research

Novo Nordisk A/S (NYSE:NVO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $55.00 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 11.77% from the company’s previous close.

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.”

Several other brokerages have also commented on NVO. BidaskClub lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. BNP Paribas lowered Novo Nordisk A/S from an “outperform” rating to a “neutral” rating in a research note on Monday, September 25th. Finally, Bank of America Corporation upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, September 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $55.00.

Shares of Novo Nordisk A/S (NVO) traded down 0.85% during trading on Tuesday, hitting $48.79. The stock had a trading volume of 2,805,420 shares. The company’s 50 day moving average price is $47.95 and its 200 day moving average price is $42.66. Novo Nordisk A/S has a 12 month low of $30.89 and a 12 month high of $49.50. The stock has a market cap of $121.01 billion, a price-to-earnings ratio of 19.63 and a beta of 0.61.

COPYRIGHT VIOLATION WARNING: “Novo Nordisk A/S (NVO) Raised to “Buy” at Zacks Investment Research” was first posted by Community Financial News and is the property of of Community Financial News. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://www.com-unik.info/2017/10/10/novo-nordisk-as-nvo-raised-to-buy-at-zacks-investment-research.html.

Several hedge funds have recently bought and sold shares of the stock. Keel Point LLC raised its holdings in shares of 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 buying an additional 24 shares during the period. AlphaMark Advisors LLC raised its holdings in shares of 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 buying an additional 30 shares during the period. Trillium Asset Management LLC raised its holdings in shares of 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 buying an additional 48 shares during the period. Baldwin Investment Management LLC raised its holdings in shares of 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 buying an additional 111 shares during the period. Finally, Garrison Financial Corp raised its holdings in shares of 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 buying an additional 145 shares during the period. Hedge funds and other institutional investors own 6.01% of the company’s stock.

About Novo Nordisk A/S

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.

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

What are top analysts saying about Novo Nordisk A/S? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Novo Nordisk A/S and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit