Novo Nordisk A/S (NVO) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Novo Nordisk A/S (NYSE:NVO) from a buy rating to a hold rating in a research report released on Monday morning.

According to Zacks, “Novo Nordisk’s second-quarter results topped earnings, but missed revenue estimates. The company has a strong pipeline, primarily focusing on therapeutic proteins within insulin, GLP-1, blood clotting factors and human growth hormone. The company has a strong presence in the Diabetes care market with a global value market share of 27%. The segment is driven by strong performance of drugs like Victoza, Tresiba, Saxenda and Xultophy among others. Novo Nordisk’s stock movement has outperformed the industry. However, we believe continued growth from Victoza and Tresiba as well as higher contributions from Saxenda and Xultophy will be partly offset by the impact of lower realized prices in the U.S., loss of exclusivity for products in hormone replacement therapy, intensifying competition within the diabetes and biopharmaceuticals markets and macroeconomic conditions in many markets under International Operations.”

Several other equities research analysts also recently commented on the stock. BNP Paribas downgraded shares of Novo Nordisk A/S from an outperform rating to a neutral rating in a research note on Monday, September 25th. Bank of America Corporation upgraded shares of Novo Nordisk A/S from an underperform rating to a neutral rating in a research note on Wednesday, September 6th. Finally, BidaskClub upgraded shares of Novo Nordisk A/S from a sell rating to a hold rating in a research note on Saturday, August 12th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $55.00.

Shares of Novo Nordisk A/S (NYSE:NVO) opened at 49.21 on Monday. The company has a 50 day moving average of $47.95 and a 200-day moving average of $42.66. The firm has a market cap of $122.05 billion, a PE ratio of 19.79 and a beta of 0.61. Novo Nordisk A/S has a 12-month low of $30.89 and a 12-month high of $49.50.

ILLEGAL ACTIVITY WARNING: This news story was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another site, it was illegally stolen and reposted in violation of US and international trademark & copyright law. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/10/novo-nordisk-as-nvo-lowered-to-hold-at-zacks-investment-research.html.

Several institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in shares of Novo Nordisk A/S by 17.7% in the first quarter. Renaissance Technologies LLC now owns 16,409,200 shares of the company’s stock valued at $562,507,000 after buying an additional 2,463,300 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Novo Nordisk A/S by 3.2% in the first quarter. Bank of America Corp DE now owns 12,102,582 shares of the company’s stock valued at $414,876,000 after buying an additional 380,536 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Novo Nordisk A/S by 12.9% in the second quarter. Fisher Asset Management LLC now owns 11,690,997 shares of the company’s stock valued at $501,427,000 after buying an additional 1,331,992 shares during the last quarter. Folketrygdfondet raised its holdings in shares of Novo Nordisk A/S by 13.2% in the second quarter. Folketrygdfondet now owns 6,914,192 shares of the company’s stock valued at $296,550,000 after buying an additional 803,608 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Novo Nordisk A/S by 64,406.4% in the first quarter. State Street Corp now owns 5,593,351 shares of the company’s stock valued at $191,740,000 after buying an additional 5,584,680 shares during the last quarter. 6.01% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Company Profile

According to Zacks, “Novo Nordisk’s second-quarter results topped earnings, but missed revenue estimates. The company has a strong pipeline, primarily focusing on therapeutic proteins within insulin, GLP-1, blood clotting factors and human growth hormone. The company has a strong presence in the Diabetes care market with a global value market share of 27%. The segment is driven by strong performance of drugs like Victoza, Tresiba, Saxenda and Xultophy among others. Novo Nordisk’s stock movement has outperformed the industry. However, we believe continued growth from Victoza and Tresiba as well as higher contributions from Saxenda and Xultophy will be partly offset by the impact of lower realized prices in the U.S., loss of exclusivity for products in hormone replacement therapy, intensifying competition within the diabetes and biopharmaceuticals markets and macroeconomic conditions in many markets under International Operations.”

Several other equities research analysts also recently commented on the stock. BNP Paribas downgraded shares of Novo Nordisk A/S from an outperform rating to a neutral rating in a research note on Monday, September 25th. Bank of America Corporation upgraded shares of Novo Nordisk A/S from an underperform rating to a neutral rating in a research note on Wednesday, September 6th. Finally, BidaskClub upgraded shares of Novo Nordisk A/S from a sell rating to a hold rating in a research note on Saturday, August 12th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $55.00.

Shares of Novo Nordisk A/S (NYSE:NVO) opened at 49.21 on Monday. The company has a 50 day moving average of $47.95 and a 200-day moving average of $42.66. The firm has a market cap of $122.05 billion, a PE ratio of 19.79 and a beta of 0.61. Novo Nordisk A/S has a 12-month low of $30.89 and a 12-month high of $49.50.

ILLEGAL ACTIVITY WARNING: This news story was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another site, it was illegally stolen and reposted in violation of US and international trademark & copyright law. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/10/novo-nordisk-as-nvo-lowered-to-hold-at-zacks-investment-research.html.

Several institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in shares of Novo Nordisk A/S by 17.7% in the first quarter. Renaissance Technologies LLC now owns 16,409,200 shares of the company’s stock valued at $562,507,000 after buying an additional 2,463,300 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Novo Nordisk A/S by 3.2% in the first quarter. Bank of America Corp DE now owns 12,102,582 shares of the company’s stock valued at $414,876,000 after buying an additional 380,536 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Novo Nordisk A/S by 12.9% in the second quarter. Fisher Asset Management LLC now owns 11,690,997 shares of the company’s stock valued at $501,427,000 after buying an additional 1,331,992 shares during the last quarter. Folketrygdfondet raised its holdings in shares of Novo Nordisk A/S by 13.2% in the second quarter. Folketrygdfondet now owns 6,914,192 shares of the company’s stock valued at $296,550,000 after buying an additional 803,608 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Novo Nordisk A/S by 64,406.4% in the first quarter. State Street Corp now owns 5,593,351 shares of the company’s stock valued at $191,740,000 after buying an additional 5,584,680 shares during the last quarter. 6.01% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.

Analyst Recommendations for Novo Nordisk A/S (NYSE:NVO)

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