Dixon Mitchell Investment Counsel Inc. Acquires New Stake in Novo Nordisk A/S (NYSE:NVO)

Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 200 shares of the company’s stock, valued at approximately $26,000.

Several other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake 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 worth $6,227,000 after purchasing an additional 48,678 shares in the last quarter. Bank of Nova Scotia purchased a new position in Novo Nordisk A/S in the third quarter worth approximately $263,000. Toronto Dominion Bank grew its holdings in Novo Nordisk A/S by 93.3% during the 3rd quarter. Toronto Dominion Bank now owns 45,912 shares of the company’s stock worth $4,175,000 after acquiring an additional 22,165 shares in the last quarter. Ancora Advisors LLC increased its position in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Ancora Advisors LLC now owns 2,538 shares of the company’s stock valued at $231,000 after purchasing an additional 1,269 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Novo Nordisk A/S by 638.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock valued at $44,000 after purchasing an additional 415 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Argus increased their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to 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 Performance

Shares of Novo Nordisk A/S stock opened at $143.00 on Wednesday. The stock has a market capitalization of $641.72 billion, a price-to-earnings ratio of 49.31, a PEG ratio of 1.42 and a beta of 0.41. The firm’s fifty day simple moving average is $135.40 and its 200-day simple moving average is $124.04. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month 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. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.41 earnings per share for the current year.

Novo Nordisk A/S Company 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.