Cetera Investment Advisers Acquires 110,386 Shares of Novo Nordisk A/S $NVO

Key Points

• Cetera Investment Advisers increased its Novo Nordisk stake by 38.6% in the first quarter, purchasing 110,386 additional shares and bringing its total holdings to 396,557 shares valued at approximately $14.6 million.
• Novo Nordisk shares opened at $50.89, up 2.5%, while the company reported quarterly EPS of $1.03, revenue of $10.85 billion, a 37.23% net margin, and a 63.31% return on equity.
• Analyst sentiment remains cautious: five analysts rate the stock Buy, 16 Hold, and two Sell. The consensus rating is Hold, with an average price target of $65.56.

Cetera Investment Advisers boosted its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 38.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,557 shares of the company's stock after purchasing an additional 110,386 shares during the period. Cetera Investment Advisers' holdings in Novo Nordisk A/S were worth $14,573,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NVO. Revolve Wealth Partners LLC raised its holdings in shares of Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock valued at $214,000 after buying an additional 200 shares during the last quarter. AQR Capital Management LLC grew its holdings in Novo Nordisk A/S by 21.0% during the 1st quarter. AQR Capital Management LLC now owns 62,099 shares of the company's stock worth $4,312,000 after acquiring an additional 10,758 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in Novo Nordisk A/S by 18.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 10,320 shares of the company's stock worth $712,000 after acquiring an additional 1,587 shares during the last quarter. Invesco Ltd. increased its position in Novo Nordisk A/S by 26.3% in the 2nd quarter. Invesco Ltd. now owns 419,691 shares of the company's stock valued at $28,967,000 after acquiring an additional 87,467 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in Novo Nordisk A/S in the 2nd quarter valued at about $314,000. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Up 2.5%

Novo Nordisk A/S stock opened at $50.89 on Wednesday. The firm has a market capitalization of $227.22 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 4.53 and a beta of 0.77. The company's 50 day simple moving average is $46.60 and its 200 day simple moving average is $45.59. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56. Novo Nordisk A/S has a fifty-two week low of $35.12 and a fifty-two week high of $64.16.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. The firm had revenue of $10.85 billion during the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.39 EPS for the current year.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of research reports. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. HSBC reissued a "hold" rating on shares of Novo Nordisk A/S in a report on Monday, July 6th. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Friday, June 19th. Citigroup reaffirmed a "neutral" rating on shares of Novo Nordisk A/S in a report on Monday, July 20th. Finally, Zacks Research lowered Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Five research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $65.56.

Novo Nordisk A/S Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.