Jefferies Group Equities Analysts Reduce Earnings Estimates for Novo Nordisk A/S (NYSE:NVO)

Novo Nordisk A/S (NYSE:NVO) – Stock analysts at Jefferies Group dropped their FY2019 EPS estimates for Novo Nordisk A/S in a note issued to investors on Thursday, according to Zacks Investment Research. Jefferies Group analyst J. Holford now forecasts that the company will earn $2.52 per share for the year, down from their prior estimate of $2.64. Jefferies Group also issued estimates for Novo Nordisk A/S’s FY2020 earnings at $2.79 EPS and FY2021 earnings at $3.14 EPS.

Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. BNP Paribas downgraded shares of Novo Nordisk A/S from an “outperform” rating to a “neutral” rating in a research report on Monday, September 25th. Bank of America Corporation raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, September 6th. Finally, BidaskClub raised shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $55.00.

ILLEGAL ACTIVITY NOTICE: This piece was published by Week Herald and is the sole property of of Week Herald. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The correct version of this piece can be accessed at https://weekherald.com/2017/11/15/jefferies-group-brokers-cut-earnings-estimates-for-novo-nordisk-as-nvo.html.

Shares of Novo Nordisk A/S (NVO) traded down $0.15 during trading on Monday, hitting $49.76. 895,100 shares of the stock were exchanged, compared to its average volume of 2,158,519. Novo Nordisk A/S has a 52-week low of $30.89 and a 52-week high of $50.95. The stock has a market cap of $97,260.00, a P/E ratio of 21.80, a P/E/G ratio of 2.98 and a beta of 0.65.

In other news, insider Eric S. Sprott bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was purchased at an average cost of $8.34 per share, for a total transaction of $417,000.00.

A number of large investors have recently bought and sold shares of the business. Kalos Management Inc. raised its position in Novo Nordisk A/S by 3.1% during the third quarter. Kalos Management Inc. now owns 69,221 shares of the company’s stock worth $3,333,000 after acquiring an additional 2,080 shares during the period. Point72 Asset Management L.P. acquired a new position in Novo Nordisk A/S during the third quarter worth $7,194,000. Foyston Gordon & Payne Inc raised its position in Novo Nordisk A/S by 49.7% during the third quarter. Foyston Gordon & Payne Inc now owns 171,472 shares of the company’s stock worth $8,256,000 after acquiring an additional 56,941 shares during the period. Hansberger Growth Investors LP raised its position in Novo Nordisk A/S by 11.5% during the third quarter. Hansberger Growth Investors LP now owns 44,674 shares of the company’s stock worth $2,151,000 after acquiring an additional 4,624 shares during the period. Finally, Zions Bancorporation raised its position in Novo Nordisk A/S by 677.1% during the third quarter. Zions Bancorporation now owns 2,852 shares of the company’s stock worth $137,000 after acquiring an additional 2,485 shares during the period. Institutional investors own 6.01% 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.

Get a free copy of the Zacks research report on Novo Nordisk A/S (NVO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Novo Nordisk A/S (NYSE:NVO)

Receive News & Ratings for Novo Nordisk A/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novo Nordisk A/S and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply