Price T Rowe Associates Inc. MD Buys 823,036 Shares of Novo Nordisk A/S (NYSE:NVO)

Price T Rowe Associates Inc. MD boosted its stake in Novo Nordisk A/S (NYSE:NVO) by 10.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,589,222 shares of the company’s stock after purchasing an additional 823,036 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.19% of Novo Nordisk A/S worth $1,102,857,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at $26,000. Orion Capital Management LLC purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at $26,000. CNB Bank purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at $26,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Novo Nordisk A/S in the 1st quarter worth $34,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock traded down $1.13 during trading hours on Friday, reaching $126.73. The company’s stock had a trading volume of 3,179,137 shares, compared to its average volume of 4,034,653. The firm has a 50 day moving average price of $138.69 and a 200-day moving average price of $128.41. Novo Nordisk A/S has a one year low of $77.96 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a market cap of $568.70 billion, a P/E ratio of 43.70, a P/E/G ratio of 1.27 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The firm had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, analysts predict that Novo Nordisk A/S will post 3.38 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on NVO. BMO Capital Markets reiterated an “outperform” rating and issued a $163.00 price target on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Argus boosted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group began 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 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.67.

About Novo Nordisk A/S

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.