Hudock Inc. Makes New $414,000 Investment in Novo Nordisk A/S (NYSE:NVO)

Hudock Inc. bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,228 shares of the company’s stock, valued at approximately $414,000.

A number of other hedge funds also recently added to or reduced their stakes in NVO. Summit Financial Wealth Advisors LLC acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at $1,272,000. AAFMAA Wealth Management & Trust LLC acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at $1,346,000. Centerpoint Advisors LLC raised its holdings in shares of Novo Nordisk A/S by 655.7% in the 1st quarter. Centerpoint Advisors LLC now owns 2,305 shares of the company’s stock valued at $296,000 after purchasing an additional 2,000 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at $266,000. Finally, FinTrust Capital Advisors LLC raised its holdings in shares of Novo Nordisk A/S by 13.2% in the 1st quarter. FinTrust Capital Advisors LLC now owns 2,136 shares of the company’s stock valued at $274,000 after purchasing an additional 249 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded up $0.76 during midday trading on Monday, hitting $143.13. 2,907,854 shares of the company’s stock were exchanged, compared to its average volume of 4,461,959. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-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 stock has a market cap of $642.30 billion, a price-to-earnings ratio of 49.36, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41. The firm’s 50 day simple moving average is $136.85 and its 200 day simple moving average is $125.49.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data 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 company had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. Equities research analysts predict that Novo Nordisk A/S will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NVO. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, July 1st. Argus lifted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group assumed 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. Finally, BMO Capital Markets reiterated 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 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.