Leo Wealth LLC Buys New Position in Novo Nordisk A/S (NYSE:NVO)

Leo Wealth LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,948 shares of the company’s stock, valued at approximately $565,000.

Several other large investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in shares of Novo Nordisk A/S by 245.9% in the third 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 during the period. Rhumbline Advisers raised its position in shares of Novo Nordisk A/S by 121.6% in the 3rd quarter. Rhumbline Advisers now owns 59,322 shares of the company’s stock worth $5,395,000 after purchasing an additional 32,551 shares during the last quarter. Kestra Advisory Services LLC raised its position in shares of Novo Nordisk A/S by 218.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 80,183 shares of the company’s stock worth $7,292,000 after purchasing an additional 55,003 shares during the last quarter. FMR LLC raised its position in shares of Novo Nordisk A/S by 122.7% in the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after purchasing an additional 6,654,614 shares during the last quarter. Finally, Clearstead Advisors LLC raised its position in shares of Novo Nordisk A/S by 130.2% in the 3rd quarter. Clearstead Advisors LLC now owns 2,488 shares of the company’s stock worth $226,000 after purchasing an additional 1,407 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVO has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price target for the company. The Goldman Sachs Group initiated 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 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday. Finally, Argus upped their price target 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO traded down $2.13 during mid-day trading on Monday, reaching $140.37. 3,150,544 shares of the company traded hands, compared to its average volume of 4,514,267. The company’s 50 day moving average price is $131.39 and its 200-day moving average price is $120.61. The firm has a market cap of $629.91 billion, a PE ratio of 48.40, a PEG ratio of 1.48 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 52 week low of $75.56 and a 52 week high of $144.50.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The business had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. On average, equities analysts expect 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.