Novo Nordisk A/S (NYSE:NVO) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its holdings in Novo Nordisk A/S (NYSE:NVO) by 111.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,077 shares of the company’s stock after acquiring an additional 18,466 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Novo Nordisk A/S were worth $4,504,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NVO. Charles Schwab Investment Management Inc. grew its holdings in shares of Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after buying an additional 26,067 shares in the last quarter. Advisor Resource Council purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at $997,000. Procyon Advisors LLC increased its stake in shares of Novo Nordisk A/S by 47.7% in the fourth quarter. Procyon Advisors LLC now owns 55,026 shares of the company’s stock worth $5,692,000 after acquiring an additional 17,783 shares during the last quarter. McKinley Carter Wealth Services Inc. raised its holdings in shares of Novo Nordisk A/S by 37.0% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 60,356 shares of the company’s stock worth $6,244,000 after acquiring an additional 16,293 shares in the last quarter. Finally, Harbour Trust & Investment Management Co acquired a new stake in Novo Nordisk A/S during the fourth quarter valued at $6,105,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock traded down $0.38 during trading hours on Monday, hitting $141.70. 1,905,434 shares of the stock were exchanged, compared to its average volume of 4,416,738. 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 has a 12 month low of $77.96 and a 12 month high of $148.15. The stock has a market capitalization of $635.88 billion, a P/E ratio of 49.12, a P/E/G ratio of 1.41 and a beta of 0.41. The business’s 50-day moving average is $138.06 and its two-hundred day moving average is $126.57.

Novo Nordisk A/S (NYSE:NVO) last announced 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 analysts’ expectations 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 expect that Novo Nordisk A/S will post 3.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NVO shares. Argus raised their price target on 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. 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. The Goldman Sachs Group assumed 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 objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, July 1st. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.67.

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.