AAFMAA Wealth Management & Trust LLC Raises Position in Novo Nordisk A/S (NYSE:NVO)

AAFMAA Wealth Management & Trust LLC grew its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 23.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 21,452 shares of the company's stock after acquiring an additional 4,095 shares during the period. AAFMAA Wealth Management & Trust LLC's holdings in Novo Nordisk A/S were worth $1,490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stokes Capital Advisors LLC grew its holdings in Novo Nordisk A/S by 358.5% in the first quarter. Stokes Capital Advisors LLC now owns 62,602 shares of the company's stock worth $4,347,000 after purchasing an additional 48,947 shares during the period. Independence Bank of Kentucky grew its stake in shares of Novo Nordisk A/S by 8.1% in the 1st quarter. Independence Bank of Kentucky now owns 14,260 shares of the company's stock worth $990,000 after buying an additional 1,070 shares during the last quarter. KFG Wealth Management LLC grew its stake in shares of Novo Nordisk A/S by 35.3% in the 1st quarter. KFG Wealth Management LLC now owns 6,522 shares of the company's stock worth $453,000 after buying an additional 1,701 shares during the last quarter. Tealwood Asset Management Inc. grew its stake in shares of Novo Nordisk A/S by 33.5% in the 1st quarter. Tealwood Asset Management Inc. now owns 19,143 shares of the company's stock worth $1,329,000 after buying an additional 4,807 shares during the last quarter. Finally, First Affirmative Financial Network grew its stake in shares of Novo Nordisk A/S by 5.6% in the 1st quarter. First Affirmative Financial Network now owns 4,903 shares of the company's stock worth $340,000 after buying an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock traded up $2.05 on Friday, reaching $74.70. The stock had a trading volume of 9,535,540 shares, compared to its average volume of 6,905,079. The stock has a market cap of $335.22 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 0.90 and a beta of 0.66. Novo Nordisk A/S has a 1 year low of $57.00 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The company has a 50 day simple moving average of $65.87 and a 200 day simple moving average of $80.54.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NVO. Morgan Stanley began coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an "equal weight" rating on the stock. Dbs Bank downgraded shares of Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Guggenheim cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. BNP Paribas started coverage on shares of Novo Nordisk A/S in a report on Tuesday, April 15th. They set an "underperform" rating on the stock. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $128.00.

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.