Anchor Capital Advisors LLC Takes $223,000 Position in Novo Nordisk A/S (NYSE:NVO)

Anchor Capital Advisors LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,740 shares of the company’s stock, valued at approximately $223,000.

Other large investors also recently made changes to their positions in the company. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $25,000. CNB Bank bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $26,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $30,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE NVO traded down $0.74 during midday trading on Monday, hitting $141.34. The company had a trading volume of 1,662,795 shares, compared to its average volume of 4,415,306. The firm has a fifty day simple moving average of $138.06 and a two-hundred day simple moving average of $126.57. Novo Nordisk A/S has a fifty-two week low of $77.96 and a fifty-two week high of $148.15. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. The stock has a market cap of $634.27 billion, a price-to-earnings ratio of 49.12, a P/E/G ratio of 1.41 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results 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. The business had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. Equities analysts forecast that Novo Nordisk A/S will post 3.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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