Liberty Wealth Management LLC Makes New $231,000 Investment in Novo Nordisk A/S (NYSE:NVO)

Liberty Wealth Management LLC purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,797 shares of the company’s stock, valued at approximately $231,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in Novo Nordisk A/S during the first quarter worth approximately $1,574,000. Whittier Trust Co. increased its position in Novo Nordisk A/S by 14.2% during the first quarter. Whittier Trust Co. now owns 43,158 shares of the company’s stock worth $5,541,000 after buying an additional 5,354 shares during the period. Mutual Advisors LLC increased its position in Novo Nordisk A/S by 3.4% during the first quarter. Mutual Advisors LLC now owns 27,289 shares of the company’s stock worth $3,504,000 after buying an additional 894 shares during the period. Diversified LLC increased its position in Novo Nordisk A/S by 12.3% during the first quarter. Diversified LLC now owns 5,614 shares of the company’s stock worth $721,000 after buying an additional 617 shares during the period. Finally, Smart Money Group LLC increased its holdings in shares of Novo Nordisk A/S by 18.1% in the first quarter. Smart Money Group LLC now owns 6,418 shares of the company’s stock valued at $823,000 after purchasing an additional 982 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO stock traded down $2.65 on Tuesday, reaching $140.42. 4,582,402 shares of the company’s stock were exchanged, compared to its average volume of 4,462,795. The stock has a fifty day moving average of $137.09 and a 200-day moving average of $125.76. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $148.15. The firm has a market cap of $630.14 billion, a PE ratio of 48.42, a P/E/G ratio of 1.40 and a beta of 0.41. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.23 billion. As a group, equities analysts predict that Novo Nordisk A/S will post 3.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on NVO. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, July 1st. BMO Capital Markets reissued an “outperform” rating and issued a $163.00 target price on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Argus boosted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, The Goldman Sachs Group began coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.67.

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.