Novo Nordisk A/S B

Novo-Nordisk is a global healthcare company engaged in the innovation of diabetes care. Co. also provides haemophilia care, growth hormone therapy and hormone replacement therapy. The Diabetes care business segment includes research, development, manufacturing and marketing of products within the areas of insulin, GLP-1 and related delivery systems, oral antidiabetic products (OAD) and obesity. The Biopharmaceuticals business segment includes research, development, manufacturing and marketing of products within the areas of haemophilia, growth hormone therapy, hormone replacement therapy, inflammation therapy and other therapy areas.
  • TickerNOVO B
  • ISINDK0060534915
  • ExchangeNasdaq Nordic Copenhagen
  • SectorPharmaceuticals & Biotechnology
  • CountryDenmark
Benjamin Silverstone ...
  • Jannick Lindegaard Denholt

Novo Nordisk - Expect a vanilla Q2 with some good and bad

Aside from COVID-19 headwind and partial destocking… …we still expect the core growth drivers to perform well Fundamental BUY and TP of DKK 498 reiterated

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Global Rally Losing Upside Momentum The global rally appears to be losing steam as the bearish rising wedge patterns we highlighted last week in the MSCI ACWI, ACWI ex-US, EM, and EAFE indexes ended up breaking down. Additionally, the aforementioned indexes and major indexes in Europe, Japan, and Hong Kong have been unable to break above longer-term resistance. While we believe global equities remain vulnerable to a pullback, some near-term consolidation is another possibility. For now we believe some consolidation makes sense as we remain in a sort of wait-and-see period as it relates to wha...

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Sector Synopsis

Int'l Equity Strategy In using technical analysis, we let the market be our guide. That is, we analyze what is true in the market, utilizing the vast array of tools in our technical analysis toolbox which we then formulate into our outlook using a weight of the evidence approach. In a world where there are no shortages of things to worry about (trade wars, central banks, Trump impeachment, negative interest rates, low global growth, Brexit, Manufacturing weakness, elections, Hong Kong protests, the list goes on...), our tools help us cut through the noise and conjecture. After all, what if th...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

The U.S. has continued to separate itself from broad emerging market and developed international indexes. Thankfully, one positive is that MSCI EM and MSCI EAFE have been able to stabilize from a price perspective despite relative strength weakness vs. MSCI ACWI... see charts below. In today's report we scour the globe for attractive investments in an environment where selectivity is key. • Emerging markets. There is still not much to like about broad EM as the MSCI Emerging Markets index has remained weak following price and relative strength breakdowns. Remain underweight broad EM and be...

Benjamin Silverstone ...
  • Jannick Lindegaard Denholt

Novo Nordisk - Expect a vanilla Q2 with some good and bad

Aside from COVID-19 headwind and partial destocking… …we still expect the core growth drivers to perform well Fundamental BUY and TP of DKK 498 reiterated

Team Pharma

ODDO : Immune to COVID, not to sector rotation

The Stoxx 600 Healthcare delivered a performance of +4% vs -12% for the Stoxx 600 year to date. This outperformance is attributable to the sector’s defensive role: i/ reassuring Q1 2020 results publications (confirmation of full-year guidance) and ii/ new market opportunities (COVID-19). However, it could be challenged by 1/ a rotation of portfolios to play the resumption of activity linked to the lifting of lockdown measures and 2/ the run-up to the US presidential elections (...

Team Pharma

ODDO : Immun au COVID, pas à la rotation sectorielle

Depuis le début de l’année, le Stoxx 600 HealthCare affiche une performance de +4% vs -12% pour le Stoxx 600 Europe. Cette surperformance s’explique par le rôle défensif du secteur : i/ publications du T1 rassurantes (guidances annuelles confirmées) et ii/ nouvelles opportunités de marché (COVID-19). Cependant elle pourrait être challengée par : 1/ une rotation des portefeuilles pour jouer la reprise d’activité liée au déconfinement ainsi que 2/ l’approche des élections américai...

Jan Erik Gjerland ...
  • Jannick Lindegaard Denholt

Talking Points - Novo Nordisk (Buy): An obesity power cocktail in the making

Superior obesity pipeline data stole all the headlines Encouraging pipeline progression and potential. BUY

Rune Majlund Dahl

Novo Nordisk (Buy, TP: DKK525.00) - Pipeline with potential

Novo Nordisk hosted a virtual R&D event on Friday with the focus on recent data from semaglutide and AM833 in obesity and the acquisition of Corvidia Therapeutics. We believe the event confirmed the significant potential we see in the pipeline from areas adjacent to diabetes, especially in obesity. We maintain our BUY and DKK525 target price.

Bruno Cavalier ...
  • Charles Lepetitpas
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Martial Descoutures
  • Nicolas David
  • Sebastien Malafosse
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/15/2020

We have attempted to determine in the present note whether value performance is consistent. We therefore stratified the Stoxx 600 into valuation deciles (12-mth P/E and 12-mth P/B). We have learned several lessons from this such as "deep value" is not a viable strategy. The performances of the 1st decile (lowest P/E and P/B) are the worst. In contrast, an examination of risk-adjusted performance shows that the portfolio composed of stocks in the 3rd P/E decile has a Sharpe ratio of 0....

Bruno Cavalier ...
  • Charles Lepetitpas
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Martial Descoutures
  • Nicolas David
  • Sebastien Malafosse
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/06/2020

Nous avons cherché à déterminer si la performance de la value était homogène. Nous avons donc stratifié le Stoxx 600 en déciles de valorisation (PE12m et P/B 12m). Nous en tirons plusieurs enseignements La « deep value » n’est pas une stratégie viable. Les performances du 1er décile (plus faibles PE et P/B) sont les plus mauvaises. En revanche l’examen des performances ajustées du risque permet de constater que le portefeuille composé des titres situés dans le 3ème décile de PE affich...

Karl-Johan Bonnevier ...
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Antoine Boivin-Champeaux ...
  • Fatma Agnès Hamdani
  • Martial Descoutures
  • Samantha Jeary
  • Sebastien Malafosse
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/05/2020

2020 is set to be hard hit by the ongoing health crisis (sales down 10.1% LFL; ORFA down 39%) but this atypical year should not overshadow the group's capacity to turn in historically steady growth (sales up 5.5% cc per year on average since 2011) with strong FCF (€ 311m in 2021). The Chinese business alone is valued at € 80 per share, which implies for the rest of the group a discount close to 11% vs peers. The recent rise in the share price prevents us from returning to a Buy recomm...

Antoine Boivin-Champeaux ...
  • Fatma Agnès Hamdani
  • Martial Descoutures
  • Samantha Jeary
  • Sebastien Malafosse
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/06/2020

L’année 2020 sera lourdement affectée par la crise sanitaire (CA -10.1% à ptcc ; Ropa -39%) mais cette année atypique ne doit pas faire oublier la capacité du groupe à afficher une croissance soutenue (le CA progresse en moyenne de 5.5% par an à ptcc depuis 2011) avec un fort FCF (311 M€e en 2021). Le périmètre chinois est valorisé à 80 €/action faisant apparaitre une décote pour le reste de groupe de l’ordre de 11% vs comparables. La récente hausse du titre, nous empêche de revenir ...

NOVO NORDISK A/S sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of NOVO NORDISK A/S (DK), a company active in the Pharmaceuticals industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date January 14, 2020, the closing price was DKK 398.60 and its potential was estimated at DKK 424.28.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Novo Nordisk, March 21 2019

In general, Novo Nordisk is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 5.3 (b), it is proposed to newly appoint Ms. Laurence Debroux as Member of the board of directors. Although Ms. Debroux would be considered independent in accordance with provision 3.2.1 of the Danish Recommendations on Corporate Governance, ECGS has concerns over her aggregate time commitments. Ms. Debroux is currently already serving as CFO of Heineken N.V. (listed) and non-executive director of Exor N.V. (listed). Taking into account he...

Novo Nordisk – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch