KFG Wealth Management LLC Increases Position in Novo Nordisk A/S (NYSE:NVO)

KFG Wealth Management LLC grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 35.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 6,522 shares of the company’s stock after buying an additional 1,701 shares during the period. KFG Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $453,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. M. Kulyk & Associates LLC grew its holdings in shares of Novo Nordisk A/S by 3.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company’s stock worth $274,000 after purchasing an additional 119 shares during the last quarter. 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. Tradewinds Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 2.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 4,984 shares of the company’s stock valued at $429,000 after acquiring an additional 124 shares in the last quarter. Exencial Wealth Advisors LLC boosted its holdings in shares of Novo Nordisk A/S by 0.5% in the fourth quarter. Exencial Wealth Advisors LLC now owns 23,094 shares of the company’s stock valued at $1,987,000 after purchasing an additional 124 shares during the period. Finally, Indie Asset Partners LLC grew its stake in Novo Nordisk A/S by 4.2% in the fourth quarter. Indie Asset Partners LLC now owns 3,128 shares of the company’s stock worth $269,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Friday. BNP Paribas assumed coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an “underperform” rating for the company. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating on the stock. Guggenheim downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. Finally, Dbs Bank cut shares of Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $128.00.

Novo Nordisk A/S Stock Up 2.8%

Shares of Novo Nordisk A/S stock opened at $74.70 on Friday. 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 company has a market cap of $335.22 billion, a P/E ratio of 22.71, a PEG ratio of 0.90 and a beta of 0.66. The firm’s 50 day moving average price is $65.87 and its 200-day moving average price is $80.71. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. The business had revenue of $11.87 billion for the quarter. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal 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.