Novo Nordisk A/S (NVO) Downgraded by Zacks Investment Research to “Hold”

Novo Nordisk A/S (NYSE:NVO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Novo Nordisk’s earnings missed estimates but sales beat the same in fourth-quarter 2018. The company successfully launched Ozempic, the new once-weekly GLP-1 for people with type II diabetes, in several countries. Results from the broad PIONEER phase IIIa program for oral semaglutide were very encouraging for patients with type II diabetes. The company is optimistic about Ozempic and oral semaglutide. The company’s expansion of its biopharm business also bodes well. Shares of the company underperformed the industry year to date. However, lower realized prices in the Unites States, loss of exclusivity for products in hormone replacement therapy, and intensifying competition within the diabetes and biopharmaceuticals markets will adversely impact sales.”

NVO has been the topic of a number of other reports. UBS Group reiterated a “buy” rating on shares of Novo Nordisk A/S in a report on Monday, November 26th. HSBC reiterated a “sell” rating on shares of Novo Nordisk A/S in a report on Tuesday, November 6th. ValuEngine upgraded Novo Nordisk A/S from a “sell” rating to a “hold” rating in a report on Saturday, October 27th. Barclays reiterated a “sell” rating on shares of Novo Nordisk A/S in a report on Tuesday, February 5th. Finally, Morgan Stanley started coverage on Novo Nordisk A/S in a research note on Friday, February 1st. They set an “equal weight” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $52.31.

NVO traded down $0.32 during trading hours on Wednesday, reaching $49.08. The company’s stock had a trading volume of 335,373 shares, compared to its average volume of 1,507,950. Novo Nordisk A/S has a fifty-two week low of $41.23 and a fifty-two week high of $54.56. The stock has a market capitalization of $118.95 billion, a PE ratio of 19.48, a P/E/G ratio of 2.30 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Friday, February 1st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Novo Nordisk A/S had a net margin of 34.67% and a return on equity of 80.45%. The business had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.36 billion. As a group, equities analysts predict that Novo Nordisk A/S will post 2.58 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Bruderman Asset Management LLC acquired a new position in Novo Nordisk A/S during the fourth quarter worth $29,000. Karp Capital Management Corp acquired a new position in Novo Nordisk A/S during the fourth quarter worth $43,000. We Are One Seven LLC acquired a new position in Novo Nordisk A/S during the fourth quarter worth $46,000. Highwater Wealth Management LLC acquired a new position in Novo Nordisk A/S during the fourth quarter worth $49,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Novo Nordisk A/S during the fourth quarter worth $51,000. Institutional investors own 6.85% of the company’s stock.

About Novo Nordisk A/S

Novo Nordisk A/S, a healthcare company, engages in the discovery, 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 insulins, GLP-1 and related delivery systems, and oral anti-diabetic drugs and obesity.

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