Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Naviter Wealth LLC

Naviter Wealth LLC lifted its holdings in Novo Nordisk A/S (NYSE:NVO) by 23.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,871 shares of the company’s stock after purchasing an additional 11,567 shares during the quarter. Novo Nordisk A/S comprises about 1.3% of Naviter Wealth LLC’s portfolio, making the stock its 14th biggest position. Naviter Wealth LLC’s holdings in Novo Nordisk A/S were worth $7,872,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. Argus lifted their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Two investment 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.67.

Novo Nordisk A/S Price Performance

Shares of NVO traded down $2.42 during trading hours on Tuesday, hitting $143.00. 6,592,961 shares of the stock were exchanged, compared to its average volume of 4,452,019. The stock’s 50-day moving average price is $135.40 and its two-hundred day moving average price is $124.04. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $148.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The company has a market cap of $641.72 billion, a price-to-earnings ratio of 49.24, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.77 by $0.06. The firm had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. Research analysts expect that Novo Nordisk A/S will post 3.41 earnings per share for the current year.

Novo Nordisk A/S 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.