Walden Wealth Partners LLC Makes New $445,000 Investment in Novo Nordisk A/S (NYSE:NVO)

Walden Wealth Partners LLC purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,304 shares of the company’s stock, valued at approximately $445,000.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC raised its stake 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 buying an additional 6,654,614 shares during the last quarter. 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. Folketrygdfondet increased its stake in shares of Novo Nordisk A/S by 2.7% in the 4th quarter. Folketrygdfondet now owns 8,631,264 shares of the company’s stock valued at $892,904,000 after purchasing an additional 225,822 shares in the last quarter. Polen Capital Management LLC purchased a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at about $718,995,000. Finally, Capital International Investors increased its stake in shares of Novo Nordisk A/S by 22.3% in the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after purchasing an additional 1,297,536 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Argus lifted their price target 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 initiated coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock traded down $2.13 on Monday, hitting $140.37. 3,162,004 shares of the company were exchanged, compared to its average volume of 4,514,296. The stock has a market capitalization of $629.91 billion, a price-to-earnings ratio of 48.40, a price-to-earnings-growth ratio of 1.48 and a beta of 0.41. The company has a 50-day moving average price of $131.39 and a 200 day moving average price of $120.61. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $144.50. 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 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.