Novo Nordisk A/S (NYSE:NVO) Shares Bought by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 6.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,865 shares of the company’s stock after acquiring an additional 474 shares during the period. Avidian Wealth Solutions LLC’s holdings in Novo Nordisk A/S were worth $814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NVO. Jennison Associates LLC grew its position in Novo Nordisk A/S by 100.3% during the third quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock valued at $2,129,761,000 after buying an additional 11,727,507 shares during the period. FMR LLC grew its position in shares of Novo Nordisk A/S by 122.7% during the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock valued at $1,098,328,000 after acquiring an additional 6,654,614 shares during the period. Morgan Stanley increased its stake in shares of Novo Nordisk A/S by 96.5% in the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after purchasing an additional 4,526,199 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Novo Nordisk A/S by 91.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after purchasing an additional 4,350,862 shares during the period. Finally, Polen Capital Management LLC purchased a new position in Novo Nordisk A/S during the third quarter worth approximately $718,995,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group assumed coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, April 18th. BMO Capital Markets assumed coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 target price for the company. Finally, Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target on the stock. Two 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.com, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO traded down $0.97 during mid-day trading on Friday, reaching $123.05. The company’s stock had a trading volume of 5,932,926 shares, compared to its average volume of 3,905,318. The stock has a market capitalization of $552.19 billion, a P/E ratio of 42.43, a P/E/G ratio of 2.06 and a beta of 0.43. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $138.28. The stock has a 50-day moving average of $127.20 and a two-hundred day moving average of $113.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.14 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 92.21%. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.32 EPS for the current fiscal 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.