Novo Nordisk A/S (NYSE:NVO) Upgraded to “Buy” at UBS Group

Novo Nordisk A/S (NYSE:NVO) was upgraded by stock analysts at UBS Group from a “sell” rating to a “buy” rating in a note issued to investors on Wednesday,Benzinga reports.

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

Novo Nordisk A/S Price Performance

NYSE:NVO traded up $1.80 during trading hours on Wednesday, reaching $85.14. 1,163,677 shares of the company were exchanged, compared to its average volume of 5,890,926. The business has a 50 day moving average of $101.94 and a 200 day moving average of $120.27. Novo Nordisk A/S has a 1-year low of $81.50 and a 1-year high of $148.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The company has a market capitalization of $382.07 billion, a P/E ratio of 27.55, a P/E/G ratio of 1.37 and a beta of 0.45.

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S during the 2nd quarter valued at $25,000. Daiwa Securities Group Inc. purchased a new position in Novo Nordisk A/S during the third quarter worth about $28,000. Abound Wealth Management grew its position in Novo Nordisk A/S by 257.4% in the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after purchasing an additional 157 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Novo Nordisk A/S in the 3rd quarter valued at about $42,000. Finally, Carolina Wealth Advisors LLC bought a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

About Novo Nordisk A/S

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.