Jacobi Capital Management LLC Boosts Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Jacobi Capital Management LLC raised its stake in Novo Nordisk A/S (NYSE:NVO) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,935 shares of the company’s stock after buying an additional 290 shares during the period. Jacobi Capital Management LLC’s holdings in Novo Nordisk A/S were worth $1,019,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Mark Sheptoff Financial Planning LLC boosted its position in Novo Nordisk A/S by 2,307.7% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 313 shares of the company’s stock worth $40,000 after acquiring an additional 300 shares during the last quarter. Ironsides Asset Advisors LLC boosted its position in Novo Nordisk A/S by 15.4% during the first quarter. Ironsides Asset Advisors LLC now owns 3,268 shares of the company’s stock worth $420,000 after acquiring an additional 436 shares during the last quarter. Patten & Patten Inc. TN acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $258,000. Acadian Asset Management LLC boosted its position in Novo Nordisk A/S by 1,300.8% during the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after acquiring an additional 1,155,313 shares during the last quarter. Finally, TIAA Trust National Association boosted its position in Novo Nordisk A/S by 18.2% during the first quarter. TIAA Trust National Association now owns 11,329 shares of the company’s stock worth $1,455,000 after acquiring an additional 1,745 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NVO. Argus raised their target price 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. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, July 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.67.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded up $1.64 during midday trading on Monday, reaching $133.18. 2,686,954 shares of the stock traded hands, compared to its average volume of 4,447,089. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average price of $138.93 and a two-hundred day moving average price of $127.72. The firm has a market cap of $597.65 billion, a price-to-earnings ratio of 45.86, a PEG ratio of 1.32 and a beta of 0.41. Novo Nordisk A/S has a fifty-two week low of $77.96 and a fifty-two week high of $148.15.

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

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.