Global Wealth Management Investment Advisory Inc. Acquires 441 Shares of Novo Nordisk A/S (NYSE:NVO)

Global Wealth Management Investment Advisory Inc. grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 4.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,499 shares of the company’s stock after acquiring an additional 441 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Novo Nordisk A/S were worth $1,369,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after acquiring an additional 823,036 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Novo Nordisk A/S by 1.4% during the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after buying an additional 58,935 shares during the period. GQG Partners LLC raised its stake in Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after buying an additional 3,151,584 shares in the last quarter. Raymond James & Associates lifted its holdings in Novo Nordisk A/S by 1.0% in the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after buying an additional 36,223 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in Novo Nordisk A/S by 7.8% during the 1st quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock valued at $304,697,000 after acquiring an additional 172,003 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Down 1.3 %

Shares of NVO traded down $1.38 during trading hours on Tuesday, hitting $108.34. The company had a trading volume of 572,802 shares, compared to its average volume of 4,355,628. The stock has a market capitalization of $486.18 billion, a price-to-earnings ratio of 37.58, a P/E/G ratio of 1.46 and a beta of 0.42. The firm has a fifty day moving average price of $123.74 and a 200-day moving average price of $130.85. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on NVO. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $144.50.

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.