Novo Nordisk A/S (NYSE:NVO) Shares Bought by Cardinal Capital Management

Cardinal Capital Management raised its stake in Novo Nordisk A/S (NYSE:NVO) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,729 shares of the company’s stock after purchasing an additional 1,422 shares during the period. Novo Nordisk A/S comprises 1.4% of Cardinal Capital Management’s investment portfolio, making the stock its 21st biggest position. Cardinal Capital Management’s holdings in Novo Nordisk A/S were worth $8,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NVO. Cravens & Co Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 1.0% in the 1st quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock valued at $1,059,000 after acquiring an additional 85 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in Novo Nordisk A/S by 0.6% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock worth $1,595,000 after buying an additional 90 shares during the last quarter. Clarius Group LLC grew its stake in Novo Nordisk A/S by 0.5% during the 4th quarter. Clarius Group LLC now owns 18,505 shares of the company’s stock worth $1,914,000 after buying an additional 93 shares during the last quarter. Tradewinds Capital Management LLC grew its stake in Novo Nordisk A/S by 2.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 4,955 shares of the company’s stock worth $513,000 after buying an additional 95 shares during the last quarter. Finally, Atlas Brown Inc. grew its stake in Novo Nordisk A/S by 2.5% during the 1st quarter. Atlas Brown Inc. now owns 3,823 shares of the company’s stock worth $491,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, June 17th. Argus increased their price objective 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. BMO Capital Markets reaffirmed an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a research report on Tuesday. Finally, The Goldman Sachs Group began coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Price Performance

NVO stock traded up $0.82 during midday trading on Thursday, hitting $144.49. 2,364,657 shares of the stock were exchanged, compared to its average volume of 4,460,411. The stock’s 50-day moving average price is $134.16 and its 200-day moving average price is $122.88. The stock has a market cap of $648.40 billion, a price-to-earnings ratio of 49.57, a PEG ratio of 1.46 and a beta of 0.41. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly 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 company had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. Research analysts predict that Novo Nordisk A/S will post 3.41 earnings per share for the current 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.