Elm3 Financial Group LLC Makes New Investment in Novo Nordisk A/S (NYSE:NVO)

Elm3 Financial Group LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 20,536 shares of the company’s stock, valued at approximately $1,767,000. Novo Nordisk A/S accounts for about 1.5% of Elm3 Financial Group LLC’s holdings, making the stock its 16th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in Novo Nordisk A/S by 110.5% during the 2nd quarter. AQR Capital Management LLC now owns 17,164 shares of the company’s stock valued at $2,450,000 after purchasing an additional 9,012 shares during the period. Mather Group LLC. boosted its stake in Novo Nordisk A/S by 4.3% in the third quarter. Mather Group LLC. now owns 5,835 shares of the company’s stock valued at $695,000 after acquiring an additional 243 shares during the last quarter. Park Place Capital Corp acquired a new stake in Novo Nordisk A/S during the 3rd quarter worth $119,000. Olistico Wealth LLC raised its position in shares of Novo Nordisk A/S by 6.3% during the 3rd quarter. Olistico Wealth LLC now owns 7,731 shares of the company’s stock valued at $921,000 after acquiring an additional 460 shares during the last quarter. Finally, Gratus Wealth Advisors LLC lifted its stake in shares of Novo Nordisk A/S by 69.0% in the 3rd quarter. Gratus Wealth Advisors LLC now owns 3,693 shares of the company’s stock valued at $435,000 after purchasing an additional 1,508 shares during the period. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. One analyst has 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 data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $85.83 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 52 week low of $78.17 and a 52 week high of $148.15. The company’s 50 day moving average price is $92.65 and its two-hundred day moving average price is $112.19. The company has a market capitalization of $385.16 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 0.93 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 35.03% and a return on equity of 86.32%. On average, analysts expect that Novo Nordisk A/S will post 3.16 earnings per share 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.