Wedmont Private Capital Raises Stake in Novo Nordisk A/S (NYSE:NVO)

Wedmont Private Capital boosted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 2.7% during the 1st quarter, HoldingsChannel reports. The firm owned 9,087 shares of the company’s stock after purchasing an additional 236 shares during the period. Wedmont Private Capital’s holdings in Novo Nordisk A/S were worth $1,135,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Westside Investment Management Inc. lifted its stake in shares of Novo Nordisk A/S by 83.3% in the 3rd quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock worth $130,000 after acquiring an additional 649 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Novo Nordisk A/S by 182.2% in the 3rd quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company’s stock worth $135,883,000 after acquiring an additional 964,640 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 worth $9,781,000 after acquiring an additional 26,067 shares during the period. Advisor Resource Council acquired a new stake in shares of Novo Nordisk A/S in the 4th quarter worth $997,000. Finally, Procyon Advisors LLC lifted its stake in shares of Novo Nordisk A/S by 47.7% in the 4th quarter. Procyon Advisors LLC now owns 55,026 shares of the company’s stock worth $5,692,000 after acquiring an additional 17,783 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $141.95 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The stock has a market cap of $637.00 billion, a P/E ratio of 48.95, a PEG ratio of 1.40 and a beta of 0.41. The company has a 50-day moving average of $132.94 and a two-hundred day moving average of $121.73. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $144.50.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $9.52 billion during 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%. As a group, research analysts predict that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Argus raised their target price on shares of 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. The Goldman Sachs Group initiated 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 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, June 17th. Finally, BMO Capital Markets initiated coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They issued an “outperform” rating and a $163.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

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.