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

Miracle Mile Advisors LLC bought a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,002 shares of the company's stock, valued at approximately $278,000.

Several other hedge funds have also recently bought and sold shares of NVO. Victory Capital Management Inc. grew its stake in Novo Nordisk A/S by 58.5% in the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company's stock valued at $5,410,000 after purchasing an additional 23,223 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 358.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company's stock valued at $3,346,000 after acquiring an additional 30,420 shares during the period. DSM Capital Partners LLC grew its position in Novo Nordisk A/S by 16.7% in the 4th quarter. DSM Capital Partners LLC now owns 2,007,412 shares of the company's stock worth $172,678,000 after purchasing an additional 286,912 shares during the last quarter. Channing Global Advisors LLC bought a new position in Novo Nordisk A/S during the fourth quarter valued at about $354,000. Finally, Compagnie Lombard Odier SCmA increased its position in shares of Novo Nordisk A/S by 5.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 67,745 shares of the company's stock valued at $5,827,000 after purchasing an additional 3,200 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on NVO shares. BMO Capital Markets restated a "market perform" rating and set a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an "equal weight" rating for the company. Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Guggenheim lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Finally, Kepler Capital Markets upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of "Hold" and an average price target of $112.00.

Novo Nordisk A/S Stock Up 3.0%

Shares of NVO stock traded up $2.34 during trading hours on Thursday, hitting $81.07. 10,546,567 shares of the company were exchanged, compared to its average volume of 7,007,081. The business has a 50 day moving average of $66.58 and a two-hundred day moving average of $80.16. Novo Nordisk A/S has a 52 week low of $57.00 and a 52 week high of $148.15. The company has a market capitalization of $363.80 billion, a PE ratio of 24.64, a PEG ratio of 0.90 and a beta of 0.66. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting analysts' consensus estimates of $0.92. The firm had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

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.