OneAscent Financial Services LLC Grows Stock Position in Novo Nordisk A/S (NYSE:NVO)

OneAscent Financial Services LLC raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 11.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,779 shares of the company’s stock after buying an additional 401 shares during the period. OneAscent Financial Services LLC’s holdings in Novo Nordisk A/S were worth $487,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Novo Nordisk A/S by 245.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 68,477 shares of the company’s stock valued at $6,227,000 after purchasing an additional 48,678 shares in the last quarter. Bank of Nova Scotia purchased a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at about $263,000. Toronto Dominion Bank increased its stake in shares of Novo Nordisk A/S by 93.3% in the 3rd quarter. Toronto Dominion Bank now owns 45,912 shares of the company’s stock valued at $4,175,000 after purchasing an additional 22,165 shares in the last quarter. Ancora Advisors LLC increased its stake in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Ancora Advisors LLC now owns 2,538 shares of the company’s stock valued at $231,000 after purchasing an additional 1,269 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its stake in shares of Novo Nordisk A/S by 84.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 15,091 shares of the company’s stock valued at $1,372,000 after purchasing an additional 6,904 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. 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, June 17th. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a report on Tuesday. Finally, Argus lifted their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock traded down $1.75 on Friday, hitting $142.74. 2,757,544 shares of the company were exchanged, compared to its average volume of 3,502,773. The stock has a market capitalization of $640.55 billion, a price-to-earnings ratio of 49.24, a price-to-earnings-growth ratio of 1.44 and a beta of 0.41. The company has a 50-day moving average price of $135.00 and a 200 day moving average price of $123.35. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $148.15. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last issued its 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. The business had revenue of $9.52 billion for 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%. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.41 earnings per share 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.