Novo Nordisk A/S (NYSE:NVO) Downgraded by Berenberg Bank to Hold

Novo Nordisk A/S (NYSE:NVO) was downgraded by research analysts at Berenberg Bank from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Marketbeat.com reports.

NVO has been the topic of several other reports. HSBC reiterated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Citigroup reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday, July 20th. Zacks Research lowered shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $47.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, August 6th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.72.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $47.22 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. The stock has a market cap of $210.82 billion, a PE ratio of 11.54, a PEG ratio of 4.35 and a beta of 0.76. Novo Nordisk A/S has a 12-month low of $35.12 and a 12-month high of $64.16. The business has a 50-day simple moving average of $47.15 and a two-hundred day simple moving average of $44.72.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 EPS for the quarter. The firm had revenue of $11.98 billion for the quarter. Novo Nordisk A/S had a return on equity of 61.20% and a net margin of 35.36%. Analysts anticipate that Novo Nordisk A/S will post 3.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NVO. Godfrey Financial Associates Inc. bought a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at about $25,000. Scarborough Advisors LLC acquired a new position in Novo Nordisk A/S in the first quarter valued at approximately $26,000. WealthCollab LLC lifted its stake in Novo Nordisk A/S by 93.5% in the fourth quarter. WealthCollab LLC now owns 538 shares of the company’s stock valued at $27,000 after buying an additional 260 shares during the period. Jackson Grant Investment Advisers Inc. bought a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $29,000. Finally, Quaker Wealth Management LLC boosted its holdings in shares of Novo Nordisk A/S by 186.0% during the 4th quarter. Quaker Wealth Management LLC now owns 615 shares of the company’s stock worth $31,000 after buying an additional 400 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.