1,745 Shares in Novo Nordisk A/S (NYSE:NVO) Purchased by KRS Capital Management LLC

KRS Capital Management LLC purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,745 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Morgan Stanley boosted its holdings in Novo Nordisk A/S by 96.5% in the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after purchasing an additional 4,526,199 shares during the last quarter. Folketrygdfondet raised its stake in shares of Novo Nordisk A/S by 1.4% in the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after acquiring an additional 124,770 shares during the period. Capital International Investors raised its stake in shares of Novo Nordisk A/S by 22.3% in the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after acquiring an additional 1,297,536 shares during the period. Royal Bank of Canada increased its stake in Novo Nordisk A/S by 109.2% during the 3rd quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock worth $331,300,000 after buying an additional 1,901,429 shares during the period. Finally, Natixis Advisors L.P. increased its stake in Novo Nordisk A/S by 1.8% during the 4th quarter. Natixis Advisors L.P. now owns 3,052,406 shares of the company’s stock worth $315,770,000 after buying an additional 55,333 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a report on Tuesday. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, June 17th. Finally, Argus upped 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 report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Trading Down 1.2 %

Shares of Novo Nordisk A/S stock traded down $1.75 during mid-day trading on Friday, hitting $142.74. 2,757,544 shares of the stock were exchanged, compared to its average volume of 3,502,773. The company has a 50-day simple moving average of $135.00 and a 200 day simple moving average of $123.35. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $148.15. The stock has a market capitalization of $640.55 billion, a price-to-earnings ratio of 49.24, a price-to-earnings-growth ratio of 1.44 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 (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Research analysts forecast that Novo Nordisk A/S will post 3.41 EPS for the current 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.