Novo Nordisk A/S (NYSE:NVO) Shares Acquired by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,913 shares of the company’s stock after purchasing an additional 473 shares during the period. Lake Street Private Wealth LLC’s holdings in Novo Nordisk A/S were worth $1,016,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lifestyle Asset Management Inc. purchased a new stake in shares of Novo Nordisk A/S in the first quarter valued at $262,000. Redmont Wealth Advisors LLC acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $34,000. Leeward Financial Partners LLC purchased a new stake in Novo Nordisk A/S in the 1st quarter worth approximately $222,000. Tradewinds Capital Management LLC raised its holdings in Novo Nordisk A/S by 2.0% in the 1st quarter. Tradewinds Capital Management LLC now owns 5,055 shares of the company’s stock valued at $649,000 after acquiring an additional 100 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its holdings in shares of Novo Nordisk A/S by 0.6% during the first quarter. Azzad Asset Management Inc. ADV now owns 35,168 shares of the company’s stock worth $4,516,000 after purchasing an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $139.11 on Thursday. The company has a market capitalization of $624.26 billion, a price-to-earnings ratio of 47.97, a PEG ratio of 1.41 and a beta of 0.41. 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 1-year low of $75.56 and a 1-year high of $148.15. The business has a 50-day moving average of $135.69 and a 200-day moving average of $124.37.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data 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. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The company had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Argus upped 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. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.67.

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.