Novo Nordisk A/S (NVO) Raised to “Hold” at Zacks Investment Research

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

According to Zacks, “Novo Nordisk faces generic threat for several of its products as well as patent expiration issues. We are also concerned about the company’s insulin product prices that are either subsidized or subject to price control.  Growth in 2017 is expected to negatively impacted due to the launch of a generic version of Vagifem in the U.S. Shares of Novo Nordisk have  underperformed the Large Cap Pharmaceuticals industry year to date. The share movement has been flat compared with the industry's gain.  However, strong performance of drugs like Victoza, Tresiba, Saxenda, Xultophy, among others, continue to bolster performance. Estimates movement has been mixed lately ahead of the Q1 earnings results. Novo Nordisk has a positive record of earnings surprises in recent quarters.”

A number of other research analysts have also recently issued reports on NVO. JPMorgan Chase & Co. cut shares of Novo Nordisk A/S from a neutral rating to an underweight rating in a research note on Tuesday, January 3rd. Barclays PLC initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, March 7th. They issued an underweight rating on the stock. Finally, HSBC Holdings plc cut shares of Novo Nordisk A/S from a hold rating to a reduce rating in a research note on Friday, April 7th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $60.00.

Shares of Novo Nordisk A/S (NYSE:NVO) traded down 0.64% on Tuesday, hitting $38.53. The stock had a trading volume of 2,139,838 shares. Novo Nordisk A/S has a 12-month low of $30.89 and a 12-month high of $57.44. The company has a 50 day moving average of $35.06 and a 200-day moving average of $35.43. The firm has a market capitalization of $96.49 billion, a P/E ratio of 17.89 and a beta of 0.83.

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The business also recently announced an annual dividend, which was paid on Tuesday, April 4th. Shareholders of record on Monday, March 27th were given a $0.6634 dividend. The ex-dividend date was Thursday, March 23rd. This represents a yield of 1.99%. Novo Nordisk A/S’s dividend payout ratio is currently 46.19%.

Hedge funds have recently modified their holdings of the stock. Perigon Wealth Management LLC bought a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $105,000. JNBA Financial Advisors raised its stake in shares of Novo Nordisk A/S by 60.5% in the fourth quarter. JNBA Financial Advisors now owns 3,437 shares of the company’s stock worth $123,000 after buying an additional 1,295 shares in the last quarter. SRS Capital Advisors Inc. bought a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $125,000. Menora Mivtachim Holdings LTD. bought a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $137,000. Finally, Physicians Financial Services Inc. bought a new stake in shares of Novo Nordisk A/S during the third quarter worth $145,000. Hedge funds and other institutional investors own 6.65% of the company’s stock.

About Novo Nordisk A/S

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.

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