Gradient Investments LLC raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 38.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 32,907 shares of the company’s stock after acquiring an additional 9,110 shares during the quarter. Gradient Investments LLC’s holdings in Novo Nordisk A/S were worth $1,680,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in NVO. TCG Advisors LP purchased a new position in Novo Nordisk A/S in the first quarter valued at about $27,000. Camarda Financial Advisors LLC bought a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $28,000. Harvest Group Wealth Management LLC bought a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $29,000. Valeo Financial Advisors LLC boosted its position in shares of Novo Nordisk A/S by 510.7% in the second quarter. Valeo Financial Advisors LLC now owns 629 shares of the company’s stock valued at $32,000 after acquiring an additional 526 shares during the period. Finally, WP Advisors LLC bought a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 7.13% of the company’s stock.
A number of research firms have recently commented on NVO. Deutsche Bank restated a “buy” rating and issued a GBX 2,450 ($32.01) price objective on shares of in a research report on Thursday, June 20th. Credit Suisse Group restated a “sell” rating and issued a $6.50 price objective on shares of Deutsche Bank in a report on Monday, April 29th. Zacks Investment Research lowered shares of General Finance from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Barclays restated a “hold” rating on shares of Bank of Montreal in a report on Tuesday, June 11th. Finally, Pareto Securities lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. Novo Nordisk A/S currently has a consensus rating of “Hold” and an average price target of $111.58.
Shares of NVO stock traded up $0.11 during mid-day trading on Friday, reaching $48.99. 423,420 shares of the company’s stock traded hands, compared to its average volume of 1,552,258. Novo Nordisk A/S has a 12 month low of $41.23 and a 12 month high of $52.83. The firm has a market cap of $120.17 billion, a P/E ratio of 19.44, a P/E/G ratio of 2.27 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.66 and a debt-to-equity ratio of 0.07. The firm’s 50-day simple moving average is $50.14.
Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.04. Novo Nordisk A/S had a net margin of 33.60% and a return on equity of 78.28%. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.35 billion. On average, sell-side analysts expect that Novo Nordisk A/S will post 2.43 EPS for the current year.
About Novo Nordisk A/S
Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.
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