Wealth Quarterback LLC Makes New $856,000 Investment in Novo Nordisk A/S (NYSE:NVO)

Wealth Quarterback LLC acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the third quarter, Holdings Channel.com reports. The fund acquired 7,187 shares of the company’s stock, valued at approximately $856,000.

A number of other institutional investors have also made changes to their positions in the company. GQG Partners LLC lifted its holdings in Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after buying an additional 3,151,584 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after acquiring an additional 1,796,635 shares during the last quarter. DSM Capital Partners LLC lifted its stake in shares of Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after acquiring an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in 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 purchasing an additional 1,155,313 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in Novo Nordisk A/S during the 3rd quarter valued at approximately $98,765,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $107.23 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $481.20 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 1.44 and a beta of 0.42. Novo Nordisk A/S has a twelve month low of $94.73 and a twelve month high of $148.15. The business has a 50 day simple moving average of $121.42 and a 200-day simple moving average of $130.30.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a net margin of 35.03% and a return on equity of 89.69%. As a group, equities research analysts expect that Novo Nordisk A/S will post 2.87 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NVO shares. BMO Capital Markets cut their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Company 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.