Strong Tower Advisory Services Has $2.90 Million Holdings in Novo Nordisk A/S (NYSE:NVO)

Strong Tower Advisory Services increased its stake in Novo Nordisk A/S (NYSE:NVO) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,765 shares of the company’s stock after buying an additional 657 shares during the quarter. Novo Nordisk A/S makes up 1.2% of Strong Tower Advisory Services’ holdings, making the stock its 23rd biggest position. Strong Tower Advisory Services’ holdings in Novo Nordisk A/S were worth $2,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in NVO. Pacific Center for Financial Services boosted its holdings in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. First PREMIER Bank acquired a new stake in Novo Nordisk A/S during the 1st quarter valued at $25,000. CNB Bank acquired a new stake in Novo Nordisk A/S during the 4th quarter valued at $26,000. Tyler Stone Wealth Management lifted its holdings in Novo Nordisk A/S by 100.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock valued at $27,000 after purchasing an additional 146 shares during the last quarter. Finally, West Paces Advisors Inc. lifted its holdings in Novo Nordisk A/S by 100.0% during the 3rd quarter. West Paces Advisors Inc. now owns 300 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO traded up $4.00 during mid-day trading on Tuesday, reaching $146.28. The company had a trading volume of 1,267,917 shares, compared to its average volume of 4,436,427. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $146.72. The firm has a market cap of $656.44 billion, a price-to-earnings ratio of 50.28, a PEG ratio of 1.41 and a beta of 0.41. The business’s 50-day simple moving average is $133.31 and its 200 day simple moving average is $122.37.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NVO shares. BMO Capital Markets started coverage on Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, June 17th. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective on the stock. Finally, Argus increased their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.67.

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.