Kestra Advisory Services LLC Has $16.01 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

Kestra Advisory Services LLC boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 23.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,616 shares of the company’s stock after purchasing an additional 23,641 shares during the quarter. Kestra Advisory Services LLC’s holdings in Novo Nordisk A/S were worth $16,014,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NVO. Charles Schwab Investment Management Inc. increased its stake in Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after acquiring an additional 26,067 shares during the period. McKinley Carter Wealth Services Inc. raised its stake in shares of Novo Nordisk A/S by 37.0% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 60,356 shares of the company’s stock valued at $6,244,000 after purchasing an additional 16,293 shares in the last quarter. Harbour Trust & Investment Management Co acquired a new position in shares of Novo Nordisk A/S in the fourth quarter valued at $6,105,000. Bank of New Hampshire lifted its position in Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after purchasing an additional 12,347 shares during the period. Finally, Cim LLC acquired a new stake in Novo Nordisk A/S during the fourth quarter worth $23,547,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

NYSE NVO traded down $1.13 during trading hours on Friday, reaching $126.73. 3,179,137 shares of the company’s stock were exchanged, compared to its average volume of 4,034,653. Novo Nordisk A/S has a one year low of $77.96 and a one year high of $148.15. The stock has a market cap of $568.70 billion, a PE ratio of 43.70, a price-to-earnings-growth ratio of 1.27 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 fifty day moving average of $138.69 and a 200-day moving average of $128.41.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.06. The business had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. On average, equities research analysts predict that Novo Nordisk A/S will post 3.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of 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 shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, July 1st. Finally, 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. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.67.

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.