Novo Nordisk A/S (NYSE:NVO) Price Target Cut to $156.00 by Analysts at BMO Capital Markets

Novo Nordisk A/S (NYSE:NVO) had its target price reduced by research analysts at BMO Capital Markets from $160.00 to $156.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 31.67% from the company’s current price.

Several other research firms have also recently issued reports on NVO. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NVO traded up $0.45 during mid-day trading on Thursday, hitting $118.48. 593,882 shares of the company traded hands, compared to its average volume of 4,287,540. Novo Nordisk A/S has a 1 year low of $92.94 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The stock has a 50-day moving average price of $128.99 and a two-hundred day moving average price of $131.81. The stock has a market cap of $531.68 billion, a price-to-earnings ratio of 40.89, a P/E/G ratio of 1.53 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Equities analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Institutional Trading of Novo Nordisk A/S

Several institutional investors have recently added to or reduced their stakes in the company. First PREMIER Bank purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth approximately $25,000. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S in the second quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S during the second quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Novo Nordisk A/S in the first quarter worth about $26,000. Finally, Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S in the first quarter worth about $26,000. Institutional investors 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.