Iams Wealth Management LLC Has $1.97 Million Stake in Novo Nordisk A/S (NYSE:NVO)

Iams Wealth Management LLC trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 13.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,194 shares of the company’s stock after selling 2,430 shares during the period. Novo Nordisk A/S accounts for 1.2% of Iams Wealth Management LLC’s holdings, making the stock its 20th largest position. Iams Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $1,968,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cravens & Co Advisors LLC grew its stake in shares of Novo Nordisk A/S by 1.0% during the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after buying an additional 85 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in Novo Nordisk A/S by 0.6% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock valued at $1,595,000 after buying an additional 90 shares during the period. Clarius Group LLC raised its holdings in shares of Novo Nordisk A/S by 0.5% during the fourth quarter. Clarius Group LLC now owns 18,505 shares of the company’s stock valued at $1,914,000 after purchasing an additional 93 shares during the period. Tradewinds Capital Management LLC raised its holdings in shares of Novo Nordisk A/S by 2.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 4,955 shares of the company’s stock valued at $513,000 after purchasing an additional 95 shares during the period. Finally, Atlas Brown Inc. raised its holdings in shares of Novo Nordisk A/S by 2.5% in the 1st quarter. Atlas Brown Inc. now owns 3,823 shares of the company’s stock worth $491,000 after acquiring an additional 95 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Argus increased their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price on the stock. BMO Capital Markets restated an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Stock Performance

NYSE NVO traded down $2.93 during mid-day trading on Tuesday, reaching $142.49. 3,982,870 shares of the stock were exchanged, compared to its average volume of 4,436,781. The business’s 50 day moving average is $135.00 and its 200-day moving average is $123.71. Novo Nordisk A/S has a 1 year low of $75.56 and a 1 year high of $148.15. The company has a market capitalization of $639.43 billion, a P/E ratio of 49.28, a P/E/G ratio of 1.42 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.06. The business had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.

Novo Nordisk A/S Company Profile

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.