AAFMAA Wealth Management & Trust LLC Makes New $1.35 Million Investment in Novo Nordisk A/S (NYSE:NVO)

AAFMAA Wealth Management & Trust LLC bought a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,480 shares of the company’s stock, valued at approximately $1,346,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First PREMIER Bank purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth $25,000. CNB Bank purchased a new position in Novo Nordisk A/S in the fourth quarter worth about $26,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Novo Nordisk A/S during the first quarter worth approximately $26,000. West Paces Advisors Inc. raised its position in Novo Nordisk A/S by 100.0% during the third quarter. West Paces Advisors Inc. now owns 300 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares during the period. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $28,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Up 0.5 %

Shares of NYSE NVO traded up $0.76 during mid-day trading on Monday, reaching $143.13. The company had a trading volume of 2,907,854 shares, compared to its average volume of 4,461,959. The stock has a market cap of $642.30 billion, a price-to-earnings ratio of 49.52, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $148.15. The business’s 50-day moving average is $136.52 and its 200-day moving average is $125.21. 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 (NYSE:NVO) last issued its 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 business had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. Equities analysts expect that Novo Nordisk A/S will post 3.44 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective on the stock. 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, July 1st. Finally, Argus upped 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 report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S 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.