Anchor Capital Advisors LLC Acquires New Shares in Novo Nordisk A/S (NYSE:NVO)

Anchor Capital Advisors LLC acquired a new stake in Novo Nordisk A/S (NYSE:NVO) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,740 shares of the company’s stock, valued at approximately $223,000.

A number of other hedge funds have also recently made changes to their positions in the company. Cravens & Co Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 1.0% during the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock valued at $1,059,000 after purchasing an additional 85 shares in the last quarter. Sage Rhino Capital LLC boosted its stake in shares of Novo Nordisk A/S by 0.7% during the first quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock valued at $1,582,000 after purchasing an additional 89 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 0.6% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock valued at $1,595,000 after purchasing an additional 90 shares in the last quarter. Essex LLC boosted its stake in shares of Novo Nordisk A/S by 2.0% during the first quarter. Essex LLC now owns 4,684 shares of the company’s stock valued at $601,000 after purchasing an additional 90 shares in the last quarter. Finally, JCIC Asset Management Inc. boosted its stake in shares of Novo Nordisk A/S by 0.3% during the first quarter. JCIC Asset Management Inc. now owns 27,552 shares of the company’s stock valued at $3,538,000 after purchasing an additional 90 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVO has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, July 1st. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. Argus lifted 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. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $163.00 price objective 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, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Trading Down 0.5 %

NVO stock traded down $0.74 during mid-day trading on Monday, reaching $141.34. The company’s stock had a trading volume of 1,662,795 shares, compared to its average volume of 4,415,306. The company has a market cap of $634.27 billion, a price-to-earnings ratio of 49.12, a price-to-earnings-growth ratio of 1.41 and a beta of 0.41. The business’s 50 day moving average price is $138.06 and its 200 day moving average price is $126.57. 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 12 month low of $77.96 and a 12 month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The business had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. On average, equities research analysts predict that Novo Nordisk A/S will post 3.43 EPS for the current 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.