Strategic Planning Group LLC Acquires New Stake in Novo Nordisk A/S (NYSE:NVO)

Strategic Planning Group LLC acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,289 shares of the company’s stock, valued at approximately $1,450,000.

A number of other large investors also recently bought and sold shares of NVO. Charles Schwab Investment Management Inc. boosted its holdings in Novo Nordisk A/S by 245.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 68,477 shares of the company’s stock valued at $6,227,000 after acquiring an additional 48,678 shares during the period. Rhumbline Advisers boosted its holdings in Novo Nordisk A/S by 121.6% during the 3rd quarter. Rhumbline Advisers now owns 59,322 shares of the company’s stock valued at $5,395,000 after acquiring an additional 32,551 shares during the period. Invesco Ltd. boosted its holdings in Novo Nordisk A/S by 100.0% during the 3rd quarter. Invesco Ltd. now owns 574,667 shares of the company’s stock valued at $52,260,000 after acquiring an additional 287,308 shares during the period. LPL Financial LLC lifted its holdings in shares of Novo Nordisk A/S by 152.7% in the 3rd quarter. LPL Financial LLC now owns 760,846 shares of the company’s stock worth $69,191,000 after buying an additional 459,737 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Novo Nordisk A/S by 100.4% in the 3rd quarter. Federated Hermes Inc. now owns 244,816 shares of the company’s stock worth $22,264,000 after buying an additional 122,622 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. BMO Capital Markets assumed coverage on Novo Nordisk A/S in a report on Friday, April 12th. They issued an “outperform” rating and a $163.00 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 report on Monday, June 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, June 17th. Finally, The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. Two 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. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S Trading Up 2.5 %

Shares of NYSE NVO opened at $145.80 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a market capitalization of $654.28 billion, a P/E ratio of 49.05, a price-to-earnings-growth ratio of 1.41 and a beta of 0.41. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $145.87. The business has a fifty day moving average price of $133.31 and a 200 day moving average price of $122.37.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. Equities research analysts expect that Novo Nordisk A/S will post 3.41 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.