BridgePort Financial Solutions LLC Makes New $540,000 Investment in Novo Nordisk A/S (NYSE:NVO)

BridgePort Financial Solutions LLC purchased a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 6,058 shares of the company's stock, valued at approximately $540,000.

A number of other hedge funds have also modified their holdings of the company. Center for Financial Planning Inc. raised its holdings in Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock worth $25,000 after buying an additional 123 shares during the period. Strategic Investment Solutions Inc. IL grew its stake in shares of Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock valued at $27,000 after buying an additional 300 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Novo Nordisk A/S in the fourth quarter valued at $29,000. Transce3nd LLC acquired a new stake in Novo Nordisk A/S during the 4th quarter valued at $33,000. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $39,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO traded down $1.80 during trading on Wednesday, hitting $68.64. 7,844,001 shares of the company's stock were exchanged, compared to its average volume of 6,730,361. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $148.15. The business's 50-day simple moving average is $65.91 and its 200 day simple moving average is $82.38. The company has a market cap of $308.02 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 0.90 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The firm had revenue of $11.87 billion for the quarter. As a group, equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on NVO. Kepler Capital Markets upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. BNP Paribas assumed coverage on Novo Nordisk A/S in a research report on Tuesday, April 15th. They issued an "underperform" rating for the company. Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Finally, Guggenheim lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $135.00.

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.