Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 801.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,390 shares of the company’s stock after purchasing an additional 3,903 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Novo Nordisk A/S were worth $454,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Novo Nordisk A/S by 28.5% during the 3rd quarter. Barclays PLC now owns 17,694 shares of the company’s stock worth $1,609,000 after purchasing an additional 3,926 shares during the last quarter. Charles Schwab Investment Management Inc. increased 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 buying an additional 48,678 shares in the last quarter. Fiera Capital Corp raised its holdings in shares of Novo Nordisk A/S by 237.7% during the third quarter. Fiera Capital Corp now owns 6,372 shares of the company’s stock valued at $579,000 after acquiring an additional 4,485 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Novo Nordisk A/S by 121.6% in the third quarter. Rhumbline Advisers now owns 59,322 shares of the company’s stock valued at $5,395,000 after acquiring an additional 32,551 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of Novo Nordisk A/S by 99.6% in the third quarter. William Blair Investment Management LLC now owns 61,795 shares of the company’s stock worth $5,620,000 after acquiring an additional 30,841 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on NVO. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. BMO Capital Markets started coverage on shares of Novo Nordisk A/S in a research report on Friday, April 12th. They issued an “outperform” rating and a $163.00 target price for the company. Argus boosted 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 research report on Monday, June 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday. Two 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S Trading Up 0.8 %

Shares of NVO traded up $1.15 during mid-day trading on Tuesday, reaching $141.52. The stock had a trading volume of 314,848 shares, compared to its average volume of 4,478,493. Novo Nordisk A/S has a 52-week low of $75.56 and a 52-week high of $144.50. The firm has a market cap of $635.08 billion, a price-to-earnings ratio of 48.40, a P/E/G ratio of 1.48 and a beta of 0.41. The business’s fifty day moving average is $131.65 and its 200 day moving average is $120.89. 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 (NYSE:NVO) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The business had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.41 EPS for the current fiscal 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.