Jacobi Capital Management LLC Acquires 290 Shares of Novo Nordisk A/S (NYSE:NVO)

Jacobi Capital Management LLC raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 3.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,935 shares of the company’s stock after acquiring an additional 290 shares during the quarter. Jacobi Capital Management LLC’s holdings in Novo Nordisk A/S were worth $1,019,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NVO. Capital International Investors grew its stake in shares of Novo Nordisk A/S by 22.3% in the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after buying an additional 1,297,536 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after buying an additional 1,155,313 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Novo Nordisk A/S by 10,359.2% in the fourth quarter. International Assets Investment Management LLC now owns 819,688 shares of the company’s stock valued at $84,797,000 after buying an additional 811,851 shares in the last quarter. Norden Group LLC grew its stake in shares of Novo Nordisk A/S by 2,456.0% in the first quarter. Norden Group LLC now owns 658,856 shares of the company’s stock valued at $84,597,000 after buying an additional 633,079 shares in the last quarter. Finally, Sapient Capital LLC bought a new position in shares of Novo Nordisk A/S in the fourth quarter valued at $65,340,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

NVO stock traded up $1.64 during midday trading on Monday, reaching $133.18. 2,686,954 shares of the company were exchanged, compared to its average volume of 4,447,089. Novo Nordisk A/S has a one year low of $77.96 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The firm has a market capitalization of $597.65 billion, a price-to-earnings ratio of 45.86, a price-to-earnings-growth ratio of 1.32 and a beta of 0.41. The business has a 50-day moving average price of $138.93 and a two-hundred day moving average price of $127.72.

Novo Nordisk A/S (NYSE:NVO) last posted 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. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The company had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. Equities research analysts forecast that Novo Nordisk A/S will post 3.38 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on NVO shares. BMO Capital Markets reissued an “outperform” rating and issued a $163.00 target price on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, July 1st. Finally, Argus lifted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average price target of $145.67.

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.