Natixis Buys 5,207 Shares of Novo Nordisk A/S (NYSE:NVO)

Natixis raised its position in shares of Novo Nordisk A/S (NYSE:NVO) by 748.1% during the 1st quarter, Holdings Channel reports. The fund owned 5,903 shares of the company’s stock after purchasing an additional 5,207 shares during the period. Natixis’ holdings in Novo Nordisk A/S were worth $758,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. First PREMIER Bank bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Novo Nordisk A/S during the 1st quarter valued at $26,000. Orion Capital Management LLC bought a new position in Novo Nordisk A/S in the 1st quarter valued at $26,000. CNB Bank purchased a new stake in Novo Nordisk A/S in the fourth quarter worth $26,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter worth $34,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVO has been the topic of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $163.00 price target on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target 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 report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. Finally, Argus lifted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $145.67.

Novo Nordisk A/S Stock Down 0.9 %

NYSE:NVO traded down $1.13 during trading hours on Friday, reaching $126.73. The company’s stock had a trading volume of 662,206 shares, compared to its average volume of 4,407,082. The stock has a 50 day moving average price of $138.79 and a two-hundred day moving average price of $128.11. 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 company has a market capitalization of $568.70 billion, a P/E ratio of 44.07, a price-to-earnings-growth ratio of 1.32 and a beta of 0.41. 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 released its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $9.23 billion. Equities analysts predict that Novo Nordisk A/S will post 3.38 EPS for the current fiscal year.

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.