Novo Nordisk A/S $NVO Position Boosted by NewEdge Wealth LLC

NewEdge Wealth LLC grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 19.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 83,615 shares of the company’s stock after purchasing an additional 13,849 shares during the period. NewEdge Wealth LLC’s holdings in Novo Nordisk A/S were worth $3,073,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NVO. Quotient Wealth Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 2.0% in the fourth quarter. Quotient Wealth Partners LLC now owns 9,091 shares of the company’s stock valued at $463,000 after acquiring an additional 177 shares in the last quarter. Certuity LLC increased its stake in shares of Novo Nordisk A/S by 3.6% during the fourth quarter. Certuity LLC now owns 5,052 shares of the company’s stock valued at $257,000 after acquiring an additional 177 shares during the period. Oakworth Capital Inc. increased its stake in shares of Novo Nordisk A/S by 41.6% during the fourth quarter. Oakworth Capital Inc. now owns 619 shares of the company’s stock valued at $31,000 after acquiring an additional 182 shares during the period. True North Advisors LLC raised its holdings in Novo Nordisk A/S by 3.9% during the fourth quarter. True North Advisors LLC now owns 5,305 shares of the company’s stock worth $270,000 after purchasing an additional 199 shares in the last quarter. Finally, Asio Capital LLC raised its holdings in Novo Nordisk A/S by 3.9% during the fourth quarter. Asio Capital LLC now owns 5,386 shares of the company’s stock worth $274,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the subject of a number of research reports. Zacks Research lowered Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Citigroup reissued a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday. Nordea Equity Research raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Friday, June 19th. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, HSBC reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $65.56.

Novo Nordisk A/S Trading Up 1.2%

Shares of NYSE:NVO opened at $48.76 on Friday. The stock has a market capitalization of $217.71 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 4.39 and a beta of 0.77. Novo Nordisk A/S has a 1-year low of $35.12 and a 1-year high of $71.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79. The company has a 50 day moving average price of $46.36 and a 200 day moving average price of $45.74.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. The firm had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. On average, research analysts anticipate that Novo Nordisk A/S will post 3.39 EPS for the current fiscal year.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.