Miracle Mile Advisors LLC Has $642,000 Stock Position in Novo Nordisk A/S (NYSE:NVO)

Miracle Mile Advisors LLC grew its position in Novo Nordisk A/S (NYSE:NVO) by 14.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,001 shares of the company’s stock after purchasing an additional 649 shares during the period. Miracle Mile Advisors LLC’s holdings in Novo Nordisk A/S were worth $642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVO. Morgan Stanley boosted its holdings in shares of Novo Nordisk A/S by 96.5% in the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after buying an additional 4,526,199 shares during the period. Royal Bank of Canada boosted its holdings in shares of Novo Nordisk A/S by 109.2% in the third quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock worth $331,300,000 after buying an additional 1,901,429 shares during the period. Capital International Investors boosted its holdings in shares of Novo Nordisk A/S by 22.3% in the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after buying an additional 1,297,536 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Novo Nordisk A/S by 10,359.2% in the fourth quarter. International Assets Investment Management LLC now owns 819,688 shares of the company’s stock worth $84,797,000 after buying an additional 811,851 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Novo Nordisk A/S by 184.8% during the third quarter. American Century Companies Inc. now owns 1,098,332 shares of the company’s stock worth $99,882,000 after purchasing an additional 712,745 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Argus raised their price target on shares of 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 restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday. BMO Capital Markets restated an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Finally, The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.67.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $145.42 on Tuesday. The firm has a market cap of $652.58 billion, a PE ratio of 50.14, a PEG ratio of 1.42 and a beta of 0.41. The firm’s 50 day moving average price is $135.00 and its 200 day moving average price is $123.71. 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 twelve month low of $75.56 and a twelve month high of $148.15.

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, beating the consensus estimate of $0.77 by $0.06. The firm had revenue of $9.52 billion for the quarter, compared to analyst estimates 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 expect that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.

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.