Fortitude Family Office LLC Raises Stake in Novo Nordisk A/S (NYSE:NVO)

Fortitude Family Office LLC increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 156.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 804 shares of the company’s stock after purchasing an additional 490 shares during the period. Fortitude Family Office LLC’s holdings in Novo Nordisk A/S were worth $56,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Simon Quick Advisors LLC increased its position in shares of Novo Nordisk A/S by 63.5% during the 1st quarter. Simon Quick Advisors LLC now owns 10,918 shares of the company’s stock valued at $758,000 after purchasing an additional 4,241 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its holdings in Novo Nordisk A/S by 0.4% in the 1st quarter. McKinley Carter Wealth Services Inc. now owns 64,658 shares of the company’s stock worth $4,490,000 after buying an additional 234 shares during the period. Martin Capital Partners LLC purchased a new position in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $1,469,000. CX Institutional purchased a new position in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $36,000. Finally, Sanibel Captiva Trust Company Inc. lifted its stake in shares of Novo Nordisk A/S by 9.4% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 17,026 shares of the company’s stock valued at $1,182,000 after purchasing an additional 1,458 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 0.8%

Novo Nordisk A/S stock opened at $78.66 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The stock has a market capitalization of $353.00 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 0.90 and a beta of 0.66. Novo Nordisk A/S has a 1-year low of $57.00 and a 1-year high of $148.15. The business has a fifty day moving average price of $66.58 and a 200-day moving average price of $80.16.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The company had revenue of $11.87 billion during the quarter. Equities research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Analysts Set New Price Targets

NVO has been the subject of a number of recent research reports. Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Dbs Bank lowered Novo Nordisk A/S to a “sell” rating in a report on Friday, April 25th. Hsbc Global Res raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, April 28th. BNP Paribas assumed coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an “underperform” rating for the company. Finally, Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Friday, June 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.00.

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.