Azzad Asset Management Inc. ADV Buys New Holdings in Novo Nordisk A/S (NYSE:NVO)

Azzad Asset Management Inc. ADV acquired a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 53,530 shares of the company's stock, valued at approximately $3,717,000.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Novo Nordisk A/S by 58.5% in the 4th 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 increased its stake in Novo Nordisk A/S by 358.8% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company's stock valued at $3,346,000 after purchasing an additional 30,420 shares in the last quarter. DSM Capital Partners LLC increased its position in Novo Nordisk A/S by 16.7% during the fourth quarter. DSM Capital Partners LLC now owns 2,007,412 shares of the company's stock worth $172,678,000 after buying an additional 286,912 shares in the last quarter. Compagnie Lombard Odier SCmA increased its position in 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 worth $5,827,000 after buying an additional 3,200 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Novo Nordisk A/S by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 73,547 shares of the company's stock worth $6,254,000 after buying an additional 3,989 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NVO. Wall Street Zen raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Saturday. Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. BMO Capital Markets reissued 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 report on Thursday, April 17th. BNP Paribas assumed coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They set an "underperform" rating on the stock. Finally, Stifel Nicolaus cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $112.00.

Novo Nordisk A/S Trading Down 1.4%

Shares of NVO stock traded down $1.15 during mid-day trading on Friday, hitting $79.90. 7,465,072 shares of the company's stock were exchanged, compared to its average volume of 7,042,462. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $148.15. The stock has a 50-day simple moving average of $67.30 and a two-hundred day simple moving average of $79.63. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The stock has a market cap of $358.57 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 0.90 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting analysts' consensus estimates 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. Equities analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

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.