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

Novo Nordisk A/S (NYSE:NVO)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They currently have a $160.00 price objective on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 26.60% from the stock’s previous close.

NVO has been the topic of several other reports. Argus increased their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. Finally, BMO Capital Markets reissued an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Price Performance

NYSE NVO traded down $1.11 during trading hours on Monday, reaching $126.38. 4,255,252 shares of the stock traded hands, compared to its average volume of 4,405,974. The stock has a 50 day simple moving average of $138.21 and a two-hundred day simple moving average of $129.36. The company has a market cap of $567.13 billion, a price-to-earnings ratio of 43.53, a price-to-earnings-growth ratio of 1.33 and a beta of 0.41. Novo Nordisk A/S has a 1 year low of $79.65 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The business had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.23 billion. On average, analysts predict that Novo Nordisk A/S will post 3.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S in the 2nd quarter worth $25,000. Gilliland Jeter Wealth Management LLC raised its stake in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Novo Nordisk A/S in the first quarter valued at approximately $26,000. Finally, Orion Capital Management LLC bought a new position in Novo Nordisk A/S in the first quarter valued at approximately $26,000. 11.54% of the stock is owned by institutional investors and hedge funds.

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.