Cantor Fitzgerald Reaffirms “Overweight” Rating for Novo Nordisk A/S (NYSE:NVO)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Novo Nordisk A/S (NYSE:NVO) in a research report report published on Monday morning, Benzinga reports. They currently have a $160.00 price objective on the stock.

NVO has been the subject of a number of other reports. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a buy rating and a $156.00 price objective for the company. Argus boosted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a buy rating in a research note on Monday, June 10th. Finally, BMO Capital Markets restated an outperform rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $145.67.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $139.11 on Monday. The company’s 50 day moving average price is $135.69 and its 200 day moving average price is $124.37. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $148.15. The company has a market capitalization of $624.26 billion, a PE ratio of 47.97, a PEG ratio of 1.42 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. The company had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. Research analysts expect that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Novo Nordisk A/S

Several large investors have recently bought and sold shares of NVO. Morgan Stanley raised its stake in shares of Novo Nordisk A/S by 96.5% in the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after buying an additional 4,526,199 shares in the last quarter. GQG Partners LLC raised its stake in shares of Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Novo Nordisk A/S by 109.2% in the 3rd quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock valued at $331,300,000 after buying an additional 1,901,429 shares in the last quarter. Capital International Investors raised its stake in shares of Novo Nordisk A/S by 22.3% in the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after buying an additional 1,297,536 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 1,300.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after buying an additional 1,155,313 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.