Sanford C. Bernstein Upgrades Novo Nordisk A/S (NYSE:NVO) to Market Perform

Sanford C. Bernstein upgraded shares of Novo Nordisk A/S (NYSE:NVO) from an underperform rating to a market perform rating in a report issued on Monday morning, MarketBeat Ratings reports.

NVO has been the topic of a number of other reports. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $85.63 on Monday. Novo Nordisk A/S has a 52-week low of $81.50 and a 52-week high of $148.15. The stock’s 50-day simple moving average is $101.38 and its 200 day simple moving average is $120.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The stock has a market capitalization of $384.27 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers raised its position in Novo Nordisk A/S by 0.4% during the second quarter. Rhumbline Advisers now owns 60,974 shares of the company’s stock valued at $8,703,000 after purchasing an additional 270 shares in the last quarter. Savant Capital LLC increased its position in shares of Novo Nordisk A/S by 16.2% during the 2nd quarter. Savant Capital LLC now owns 12,587 shares of the company’s stock valued at $1,797,000 after purchasing an additional 1,751 shares during the last quarter. Strategic Financial Concepts LLC increased its position in shares of Novo Nordisk A/S by 12,106.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 206,172 shares of the company’s stock valued at $294,000 after purchasing an additional 204,483 shares during the last quarter. Chris Bulman Inc purchased a new position in shares of Novo Nordisk A/S during the 2nd quarter valued at about $71,000. Finally, Certuity LLC lifted its position in Novo Nordisk A/S by 83.6% in the 2nd quarter. Certuity LLC now owns 4,416 shares of the company’s stock worth $630,000 after buying an additional 2,011 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.