Nicolet Advisory Services LLC Increases Position in Novo Nordisk A/S (NYSE:NVO)

Nicolet Advisory Services LLC raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,777 shares of the company’s stock after buying an additional 138 shares during the period. Nicolet Advisory Services LLC’s holdings in Novo Nordisk A/S were worth $347,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Capital International Investors boosted its holdings in Novo Nordisk A/S by 22.3% in the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after purchasing an additional 1,297,536 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Novo Nordisk A/S by 10,359.2% during the 4th quarter. International Assets Investment Management LLC now owns 819,688 shares of the company’s stock valued at $84,797,000 after buying an additional 811,851 shares during the period. Norden Group LLC raised its position in shares of Novo Nordisk A/S by 2,456.0% during the 1st quarter. Norden Group LLC now owns 658,856 shares of the company’s stock valued at $84,597,000 after buying an additional 633,079 shares during the period. Sapient Capital LLC acquired a new stake in Novo Nordisk A/S in the 4th quarter valued at approximately $65,340,000. Finally, Corient Private Wealth LLC increased its holdings in Novo Nordisk A/S by 49.3% in the 4th quarter. Corient Private Wealth LLC now owns 1,248,215 shares of the company’s stock valued at $129,128,000 after purchasing an additional 411,907 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group initiated 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 target price for the company. BMO Capital Markets restated an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Argus increased their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S Stock Performance

NVO stock traded up $1.55 during midday trading on Friday, hitting $131.54. 4,319,544 shares of the company traded hands, compared to its average volume of 4,081,212. Novo Nordisk A/S has a twelve month low of $77.96 and a twelve month high of $148.15. 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 business has a 50 day simple moving average of $138.93 and a 200-day simple moving average of $127.55. The stock has a market capitalization of $590.29 billion, a price-to-earnings ratio of 45.36, a price-to-earnings-growth ratio of 1.32 and a beta of 0.41.

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, topping the consensus estimate of $0.77 by $0.06. The business 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%. As a group, equities research analysts predict that Novo Nordisk A/S will post 3.38 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.