Capital Market Strategies LLC Increases Holdings in Novo Nordisk A/S (NYSE:NVO)

Capital Market Strategies LLC increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 7.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,843 shares of the company’s stock after buying an additional 679 shares during the quarter. Novo Nordisk A/S comprises 1.0% of Capital Market Strategies LLC’s holdings, making the stock its 23rd largest position. Capital Market Strategies LLC’s holdings in Novo Nordisk A/S were worth $1,264,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in Novo Nordisk A/S by 245.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 68,477 shares of the company’s stock worth $6,227,000 after acquiring an additional 48,678 shares during the last quarter. Rhumbline Advisers increased its stake in Novo Nordisk A/S by 121.6% during the third quarter. Rhumbline Advisers now owns 59,322 shares of the company’s stock worth $5,395,000 after acquiring an additional 32,551 shares during the last quarter. Kestra Advisory Services LLC increased its stake in Novo Nordisk A/S by 218.4% during the third quarter. Kestra Advisory Services LLC now owns 80,183 shares of the company’s stock worth $7,292,000 after acquiring an additional 55,003 shares during the last quarter. FMR LLC grew its stake in shares of Novo Nordisk A/S by 122.7% in the third quarter. FMR LLC now owns 12,077,501 shares of the company’s stock valued at $1,098,328,000 after buying an additional 6,654,614 shares in the last quarter. Finally, Clearstead Advisors LLC grew its stake in shares of Novo Nordisk A/S by 130.2% in the third quarter. Clearstead Advisors LLC now owns 2,488 shares of the company’s stock valued at $226,000 after buying an additional 1,407 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NVO shares. Argus lifted their price objective 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 started 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 Novo Nordisk A/S in a research note on Friday, April 12th. They issued an “outperform” rating and a $163.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday. Two research 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. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Stock Up 0.3 %

NVO traded up $0.43 on Wednesday, hitting $140.80. 2,640,226 shares of the company were exchanged, compared to its average volume of 3,369,956. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $144.50. The company has a market cap of $631.84 billion, a price-to-earnings ratio of 48.55, a price-to-earnings-growth ratio of 1.39 and a beta of 0.41. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $131.97 and a two-hundred day moving average price of $121.17.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Thursday, May 2nd. The company reported $0.83 EPS 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 firm had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. On average, equities analysts predict that Novo Nordisk A/S will post 3.41 earnings per share for the current year.

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.