Franklin Street Advisors Inc. NC Makes New $206,000 Investment in Novo Nordisk A/S (NYSE:NVO)

Franklin Street Advisors Inc. NC purchased a new stake in Novo Nordisk A/S (NYSE:NVO) in the first quarter, Holdings Channel reports. The firm purchased 1,604 shares of the company’s stock, valued at approximately $206,000.

Several other large investors have also recently added to or reduced their stakes in NVO. Pacific Center for Financial Services raised its position in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. First PREMIER Bank bought a new position in Novo Nordisk A/S during the 1st quarter worth $25,000. CNB Bank acquired a new stake in Novo Nordisk A/S in the fourth quarter worth $26,000. Tyler Stone Wealth Management lifted its stake in Novo Nordisk A/S by 100.0% in the third quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock valued at $27,000 after buying an additional 146 shares during the last quarter. Finally, West Paces Advisors Inc. boosted its holdings in shares of Novo Nordisk A/S by 100.0% during the third quarter. West Paces Advisors Inc. now owns 300 shares of the company’s stock valued at $27,000 after acquiring an additional 150 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on NVO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, June 17th. 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 price objective for the company. Argus lifted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $163.00 price target on shares of Novo Nordisk A/S in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Stock Up 0.6 %

NVO stock opened at $144.51 on Friday. 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 firm has a market capitalization of $648.49 billion, a P/E ratio of 49.83, a P/E/G ratio of 1.43 and a beta of 0.41. Novo Nordisk A/S has a 52-week low of $75.56 and a 52-week high of $148.15. The company’s 50 day simple moving average is $134.16 and its 200-day simple moving average is $122.88.

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, beating the consensus estimate of $0.77 by $0.06. The company had revenue of $9.52 billion for the quarter, compared to the consensus estimate 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, equities research analysts anticipate that Novo Nordisk A/S will post 3.41 EPS for the current 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.