Burns J W & Co. Inc. NY Raises Stake in Novo Nordisk A/S (NYSE:NVO)

Burns J W & Co. Inc. NY lifted its position in Novo Nordisk A/S (NYSE:NVO) by 7.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,330 shares of the company’s stock after purchasing an additional 360 shares during the period. Burns J W & Co. Inc. NY’s holdings in Novo Nordisk A/S were worth $684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. bought a new stake in Novo Nordisk A/S during the first quarter valued at about $849,000. Criterion Capital Advisors LLC lifted its holdings in Novo Nordisk A/S by 23.3% in the 1st quarter. Criterion Capital Advisors LLC now owns 8,762 shares of the company’s stock worth $1,125,000 after purchasing an additional 1,654 shares in the last quarter. MCF Advisors LLC boosted its stake in Novo Nordisk A/S by 69.1% in the 1st quarter. MCF Advisors LLC now owns 805 shares of the company’s stock worth $103,000 after purchasing an additional 329 shares during the period. Opinicus Capital Inc. bought a new stake in shares of Novo Nordisk A/S during the first quarter valued at approximately $619,000. Finally, Independence Bank of Kentucky lifted its holdings in shares of Novo Nordisk A/S by 10.6% in the first quarter. Independence Bank of Kentucky now owns 2,350 shares of the company’s stock worth $302,000 after buying an additional 225 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NVO has been the subject of a number of research analyst reports. BMO Capital Markets restated an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a research report on Tuesday. Argus upped their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, June 17th. Finally, The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S Stock Down 1.2 %

Shares of Novo Nordisk A/S stock traded down $1.75 during trading on Friday, hitting $142.74. 2,757,544 shares of the stock traded hands, compared to its average volume of 3,502,773. Novo Nordisk A/S has a 52-week low of $75.56 and a 52-week high of $148.15. The stock’s fifty day simple moving average is $135.00 and its 200 day simple moving average is $123.35. The firm has a market cap of $640.55 billion, a P/E ratio of 49.24, a price-to-earnings-growth ratio of 1.44 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.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data 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%. On average, equities analysts predict that Novo Nordisk A/S will post 3.41 earnings per share for the current fiscal year.

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.