Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 111.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 35,077 shares of the company’s stock after acquiring an additional 18,466 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Novo Nordisk A/S were worth $4,504,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cravens & Co Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 1.0% in the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after buying an additional 85 shares during the last quarter. Sage Rhino Capital LLC lifted its stake in shares of Novo Nordisk A/S by 0.7% in the first quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock worth $1,582,000 after buying an additional 89 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in Novo Nordisk A/S by 0.6% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock valued at $1,595,000 after acquiring an additional 90 shares in the last quarter. Essex LLC lifted its position in Novo Nordisk A/S by 2.0% during the first quarter. Essex LLC now owns 4,684 shares of the company’s stock worth $601,000 after buying an additional 90 shares in the last quarter. Finally, JCIC Asset Management Inc. boosted its position in shares of Novo Nordisk A/S by 0.3% during the 1st quarter. JCIC Asset Management Inc. now owns 27,552 shares of the company’s stock valued at $3,538,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Novo Nordisk A/S Stock Performance

NYSE NVO traded down $0.38 during trading on Monday, reaching $141.70. The company’s stock had a trading volume of 1,905,434 shares, compared to its average volume of 4,416,738. The business’s fifty day moving average price is $138.06 and its 200-day moving average price is $126.57. Novo Nordisk A/S has a twelve month low of $77.96 and a twelve month high of $148.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The firm has a market cap of $635.88 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 announced its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating 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 the consensus estimate of $9.23 billion. As a group, analysts anticipate that Novo Nordisk A/S will post 3.43 EPS for the current fiscal year.

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.