Soltis Investment Advisors LLC Purchases Shares of 1,618 Novo Nordisk A/S (NYSE:NVO)

Soltis Investment Advisors LLC acquired a new position in Novo Nordisk A/S (NYSE:NVO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,618 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First PREMIER Bank purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at $25,000. CNB Bank purchased a new stake in Novo Nordisk A/S in the fourth quarter valued at $26,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S during the 1st quarter worth about $26,000. Orion Capital Management LLC purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $26,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Novo Nordisk A/S in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO traded down $4.97 during midday trading on Friday, hitting $127.49. 4,774,033 shares of the company traded hands, compared to its average volume of 3,918,008. The company has a market capitalization of $572.12 billion, a price-to-earnings ratio of 43.96, a PEG ratio of 1.33 and a beta of 0.41. The business has a 50 day simple moving average of $138.21 and a two-hundred day simple moving average of $129.20. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. Novo Nordisk A/S has a 52-week low of $78.19 and a 52-week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The company had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. On average, equities analysts forecast that Novo Nordisk A/S will post 3.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NVO shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, July 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Argus increased their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus price target of $145.67.

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.