Brookstone Capital Management Decreases Stock Position in Novo Nordisk A/S (NYSE:NVO)

Brookstone Capital Management reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 39.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,041 shares of the company’s stock after selling 10,452 shares during the quarter. Brookstone Capital Management’s holdings in Novo Nordisk A/S were worth $2,060,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. RMR Wealth Builders acquired a new position in Novo Nordisk A/S in the 1st quarter valued at $302,000. IAM Advisory LLC boosted its holdings in Novo Nordisk A/S by 1.7% in the 1st quarter. IAM Advisory LLC now owns 16,749 shares of the company’s stock valued at $2,151,000 after purchasing an additional 283 shares during the last quarter. Folketrygdfondet raised its position in shares of Novo Nordisk A/S by 1.4% during the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after buying an additional 124,770 shares during the period. Inspirion Wealth Advisors LLC acquired a new position in Novo Nordisk A/S in the first quarter valued at approximately $253,000. Finally, Fermata Advisors LLC acquired a new stake in Novo Nordisk A/S during the first quarter worth $300,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 1.2 %

Novo Nordisk A/S stock opened at $142.81 on Friday. The stock has a 50-day simple moving average of $135.00 and a 200-day simple moving average of $123.35. The company has a market capitalization of $640.86 billion, a P/E ratio of 49.24, a PEG ratio of 1.43 and a beta of 0.41. 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 fifty-two week low of $75.56 and a fifty-two week high of $148.15.

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

Analysts Set New Price Targets

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

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.