Novozymes A/S (OTCMKTS:NVZMY) Reaches New 52-Week High – Still a Buy?

Novozymes A/S (OTCMKTS:NVZMY)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $66.92 and last traded at $66.92, with a volume of 7071 shares. The stock had previously closed at $64.19.

Analysts Set New Price Targets

Several analysts recently issued reports on NVZMY shares. Zacks Research upgraded shares of Novozymes A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Kepler Capital Markets upgraded Novozymes A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy”.

Novozymes A/S Trading Up 1.4%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.03 and a current ratio of 1.67. The firm has a market cap of $29.23 billion, a price-to-earnings ratio of 47.64, a PEG ratio of 3.25 and a beta of 0.92. The business has a fifty day simple moving average of $63.69 and a 200-day simple moving average of $60.59.

Novozymes A/S (OTCMKTS:NVZMY) last released its quarterly earnings results on Thursday, August 20th. The biotechnology company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.16). Novozymes A/S had a return on equity of 6.52% and a net margin of 14.22%.The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. As a group, equities analysts forecast that Novozymes A/S will post 2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novozymes A/S

A hedge fund recently raised its stake in Novozymes A/S stock. Elefante Mark B grew its holdings in shares of Novozymes A/S (OTCMKTS:NVZMY) by 73.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,900 shares of the biotechnology company’s stock after acquiring an additional 2,500 shares during the period. Elefante Mark B’s holdings in Novozymes A/S were worth $371,000 as of its most recent SEC filing. Institutional investors and hedge funds own 0.03% of the company’s stock.

About Novozymes A/S

Novozymes A/S is a Danish biotechnology company that develops, produces and markets industrial enzymes and microorganisms. Headquartered in Bagsværd, Denmark, the company focuses on using biological solutions to improve industrial processes across a range of end markets. Its offerings are designed to increase product performance or process efficiency while reducing energy, water and chemical consumption for customers.

The company’s product portfolio includes enzymes and microbial solutions for household care (detergents and cleaning products), food and beverages (baking, brewing and dairy applications), bioenergy (enzymes for biofuel production), agriculture (microbial crop inputs and biocontrols) and industrial processing (textiles, pulp and paper, and wastewater treatment).