Liberty Wealth Management LLC Buys New Stake in Novo Nordisk A/S (NYSE:NVO)

Liberty Wealth Management LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,797 shares of the company’s stock, valued at approximately $231,000.

Several other large investors have also recently added to or reduced their stakes in NVO. Ameriprise Financial Inc. increased its position in shares of Novo Nordisk A/S by 116.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,071,126 shares of the company’s stock valued at $97,565,000 after purchasing an additional 575,818 shares during the period. Baker Avenue Asset Management LP increased its position in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. Baker Avenue Asset Management LP now owns 738 shares of the company’s stock valued at $67,000 after purchasing an additional 369 shares during the period. Crestwood Advisors Group LLC acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter valued at $215,000. Integrated Wealth Concepts LLC boosted its stake in shares of Novo Nordisk A/S by 181.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 25,341 shares of the company’s stock worth $2,305,000 after acquiring an additional 16,336 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in shares of Novo Nordisk A/S during the 3rd quarter worth $2,576,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVO. Argus raised their price objective on 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. BMO Capital Markets reissued an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, July 1st. Finally, The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. Two research analysts have rated the stock with a hold rating, seven have issued 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 currently has a consensus rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S Stock Down 1.9 %

NYSE NVO traded down $2.65 on Tuesday, reaching $140.42. The stock had a trading volume of 4,582,402 shares, compared to its average volume of 4,462,795. The business has a 50 day moving average price of $137.09 and a 200 day moving average price of $125.76. 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 1 year low of $75.56 and a 1 year high of $148.15. The company has a market capitalization of $630.14 billion, a price-to-earnings ratio of 48.42, a P/E/G ratio of 1.40 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The firm had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, analysts forecast that Novo Nordisk A/S will post 3.44 EPS for the current fiscal year.

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.