Naviter Wealth LLC Purchases 11,567 Shares of Novo Nordisk A/S (NYSE:NVO)

Naviter Wealth LLC lifted its position in Novo Nordisk A/S (NYSE:NVO) by 23.5% during the 1st quarter, Holdings Channel reports. The firm owned 60,871 shares of the company’s stock after buying an additional 11,567 shares during the quarter. Novo Nordisk A/S makes up 1.3% of Naviter Wealth LLC’s investment portfolio, making the stock its 14th biggest holding. Naviter Wealth LLC’s holdings in Novo Nordisk A/S were worth $7,872,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Westside Investment Management Inc. grew its holdings in Novo Nordisk A/S by 83.3% during the 3rd quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock worth $130,000 after acquiring an additional 649 shares during the last quarter. Lazard Asset Management LLC lifted its position in Novo Nordisk A/S by 182.2% during the 3rd quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company’s stock valued at $135,883,000 after purchasing an additional 964,640 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Novo Nordisk A/S by 38.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after purchasing an additional 26,067 shares during the period. Advisor Resource Council acquired a new position in Novo Nordisk A/S during the 4th quarter valued at about $997,000. Finally, Procyon Advisors LLC lifted its position in Novo Nordisk A/S by 47.7% during the 4th quarter. Procyon Advisors LLC now owns 55,026 shares of the company’s stock valued at $5,692,000 after purchasing an additional 17,783 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 1.7 %

Shares of NYSE:NVO traded down $2.42 during mid-day trading on Tuesday, reaching $143.00. The stock had a trading volume of 6,592,961 shares, compared to its average volume of 4,452,019. The firm has a market cap of $641.72 billion, a PE ratio of 49.24, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. The firm has a 50 day simple moving average of $135.40 and a two-hundred day simple moving average of $124.04. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. 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 announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The business had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. On average, research analysts predict that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NVO shares. BMO Capital Markets restated an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday. Finally, Argus upped their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Two investment 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 a consensus rating of “Moderate Buy” and a consensus price target 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.