Ascent Group LLC Raises Holdings in Novo Nordisk A/S (NYSE:NVO)

Ascent Group LLC lifted its stake in Novo Nordisk A/S (NYSE:NVO) by 4.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,199 shares of the company’s stock after purchasing an additional 795 shares during the quarter. Ascent Group LLC’s holdings in Novo Nordisk A/S were worth $2,465,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Novo Nordisk A/S by 38.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after acquiring an additional 26,067 shares during the period. McKinley Carter Wealth Services Inc. boosted its position in Novo Nordisk A/S by 37.0% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 60,356 shares of the company’s stock valued at $6,244,000 after buying an additional 16,293 shares during the last quarter. Harbour Trust & Investment Management Co acquired a new position in Novo Nordisk A/S in the 4th quarter worth approximately $6,105,000. Bank of New Hampshire raised its position in Novo Nordisk A/S by 1,356.8% during the 1st quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after buying an additional 12,347 shares during the last quarter. Finally, Cim LLC acquired a new stake in Novo Nordisk A/S during the 4th quarter valued at approximately $23,547,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NVO shares. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. Argus upped their target price 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 reiterated an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, July 1st. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to 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 Price Performance

NVO traded up $1.32 during trading on Monday, hitting $128.05. The company’s stock had a trading volume of 3,093,199 shares, compared to its average volume of 4,415,290. The firm has a market capitalization of $574.63 billion, a price-to-earnings ratio of 44.02, a P/E/G ratio of 1.27 and a beta of 0.41. Novo Nordisk A/S has a twelve month low of $78.19 and a twelve month high of $148.15. The business’s fifty day simple moving average is $138.69 and its 200 day simple moving average is $128.54. 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 (NYSE:NVO) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.38 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.