Capital Research Global Investors Buys 13,181 Shares of Novo Nordisk A/S (NYSE:NVO)

Capital Research Global Investors boosted its stake in Novo Nordisk A/S (NYSE:NVO) by 38.7% during the 1st quarter, Holdings Channel reports. The firm owned 47,233 shares of the company’s stock after buying an additional 13,181 shares during the quarter. Capital Research Global Investors’ holdings in Novo Nordisk A/S were worth $6,065,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First PREMIER Bank purchased a new position in shares of Novo Nordisk A/S in the first quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth $26,000. Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S in the 1st quarter worth about $26,000. CNB Bank purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at about $26,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $34,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO stock opened at $126.73 on Friday. Novo Nordisk A/S has a twelve month low of $77.96 and a twelve month high of $148.15. The firm has a market cap of $568.70 billion, a price-to-earnings ratio of 43.70, a PEG ratio of 1.27 and a beta of 0.41. The business’s fifty day simple moving average is $138.69 and its two-hundred day simple moving average is $128.41. 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 posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The firm had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Analysts predict that Novo Nordisk A/S will post 3.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group began 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. Argus raised their price target on 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, July 1st. Finally, BMO Capital Markets restated an “outperform” rating and issued a $163.00 target price on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average 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.