RB Capital Management LLC Purchases New Shares in Novo Nordisk A/S (NYSE:NVO)

RB Capital Management LLC acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,638 shares of the company’s stock, valued at approximately $1,411,000.

Several other institutional investors have also modified their holdings of the stock. Pacific Center for Financial Services lifted its stake in shares of Novo Nordisk A/S by 100.0% in the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Bell Investment Advisors Inc grew its position in Novo Nordisk A/S by 79.9% in the third quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares during the period. CNB Bank acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at about $26,000. Citizens National Bank Trust Department increased its holdings in Novo Nordisk A/S by 100.0% in the 3rd quarter. Citizens National Bank Trust Department now owns 300 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. Finally, Tyler Stone Wealth Management lifted its stake in Novo Nordisk A/S by 100.0% during the third quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock worth $27,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NVO traded up $0.90 during midday trading on Wednesday, reaching $129.21. The stock had a trading volume of 4,870,468 shares, compared to its average volume of 4,796,170. The firm’s 50 day moving average price is $127.05 and its 200-day moving average price is $112.58. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $138.28. The company has a market capitalization of $579.83 billion, a P/E ratio of 47.77, a P/E/G ratio of 2.12 and a beta of 0.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The company had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.14 billion. On average, analysts forecast that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on NVO. BMO Capital Markets began coverage on Novo Nordisk A/S in a report on Friday, April 12th. They issued an “outperform” rating and a $163.00 target price for the company. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 target price for the company. UBS Group assumed coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus price target of $133.60.

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.