IAM Advisory LLC Buys 283 Shares of Novo Nordisk A/S (NYSE:NVO)

IAM Advisory LLC grew its stake in Novo Nordisk A/S (NYSE:NVO) by 1.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,749 shares of the company’s stock after purchasing an additional 283 shares during the quarter. Novo Nordisk A/S comprises about 0.6% of IAM Advisory LLC’s holdings, making the stock its 27th biggest holding. IAM Advisory LLC’s holdings in Novo Nordisk A/S were worth $2,151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NVO. 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 worth $6,227,000 after acquiring an additional 48,678 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Novo Nordisk A/S by 121.6% in the 3rd quarter. Rhumbline Advisers now owns 59,322 shares of the company’s stock worth $5,395,000 after acquiring an additional 32,551 shares in the last quarter. Invesco Ltd. increased its stake in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Invesco Ltd. now owns 574,667 shares of the company’s stock worth $52,260,000 after acquiring an additional 287,308 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Novo Nordisk A/S by 100.4% in the 3rd quarter. Federated Hermes Inc. now owns 244,816 shares of the company’s stock worth $22,264,000 after acquiring an additional 122,622 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Novo Nordisk A/S by 80.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 47,686 shares of the company’s stock worth $4,337,000 after acquiring an additional 21,269 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $3.22 during trading on Wednesday, reaching $143.69. 4,382,327 shares of the company traded hands, compared to its average volume of 4,477,395. The firm has a 50 day simple moving average of $133.78 and a 200-day simple moving average of $122.73. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $644.81 billion, a PE ratio of 49.54, a P/E/G ratio of 1.46 and a beta of 0.41. Novo Nordisk A/S has a 52-week low of $75.56 and a 52-week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. Equities research analysts anticipate that Novo Nordisk A/S will post 3.41 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on NVO shares. The Goldman Sachs Group started 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 target for the company. BMO Capital Markets restated an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a research note on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, June 17th. Finally, Argus raised their price objective on shares of 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. Two research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.67.

About Novo Nordisk A/S

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.