Oxbow Advisors LLC Makes New Investment in Novo Nordisk A/S (NYSE:NVO)

Oxbow Advisors LLC purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,796 shares of the company’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVO. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth about $25,000. CNB Bank acquired a new position in shares of Novo Nordisk A/S in the 4th quarter worth approximately $26,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Novo Nordisk A/S in the 1st quarter worth approximately $26,000. West Paces Advisors Inc. grew its stake in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. West Paces Advisors Inc. now owns 300 shares of the company’s stock worth $27,000 after purchasing an additional 150 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Novo Nordisk A/S in the 4th quarter worth approximately $28,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Up 2.0 %

NVO traded up $2.78 on Friday, reaching $142.57. 818,786 shares of the company traded hands, compared to its average volume of 4,420,768. The stock’s 50 day moving average price is $137.68 and its 200-day moving average price is $125.97. Novo Nordisk A/S has a 52-week low of $77.96 and a 52-week high of $148.15. The company has a market cap of $639.79 billion, a price-to-earnings ratio of 48.20, a PEG ratio of 1.42 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 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, sell-side analysts expect that Novo Nordisk A/S will post 3.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NVO. Argus lifted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, July 1st. BMO Capital Markets reissued an “outperform” rating and issued a $163.00 target price on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Finally, The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.