Farther Finance Advisors LLC Increases Position in Novo Nordisk A/S (NYSE:NVO)

Farther Finance Advisors LLC raised its position in Novo Nordisk A/S (NYSE:NVO) by 37.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,344 shares of the company’s stock after purchasing an additional 19,061 shares during the quarter. Farther Finance Advisors LLC’s holdings in Novo Nordisk A/S were worth $4,717,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVO. Center for Financial Planning Inc. increased its position in shares of Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after acquiring an additional 123 shares during the period. Strategic Investment Solutions Inc. IL increased its position in shares of Novo Nordisk A/S by 2,727.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock worth $27,000 after acquiring an additional 300 shares during the period. Park Square Financial Group LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $29,000. Transce3nd LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $33,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVO. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Friday. Hsbc Global Res upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Guggenheim lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. BNP Paribas initiated coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They set an “underperform” rating on the stock. Finally, Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Hold” and an average price target of $128.00.

Novo Nordisk A/S Stock Performance

NVO opened at $75.45 on Tuesday. The firm has a market cap of $338.59 billion, a PE ratio of 22.93, a P/E/G ratio of 0.90 and a beta of 0.66. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $66.01 and a 200-day simple moving average of $80.18. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting 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. As a group, equities analysts predict that Novo Nordisk A/S will post 3.84 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.