Channel Wealth LLC Grows Position in Novo Nordisk A/S (NYSE:NVO)

Channel Wealth LLC grew its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 32.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,584 shares of the company's stock after acquiring an additional 16,165 shares during the period. Novo Nordisk A/S comprises 1.4% of Channel Wealth LLC's portfolio, making the stock its 19th largest holding. Channel Wealth LLC's holdings in Novo Nordisk A/S were worth $4,554,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. M. Kulyk & Associates LLC increased its position in Novo Nordisk A/S by 3.9% during the 4th quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company's stock worth $274,000 after purchasing an additional 119 shares during the period. Center for Financial Planning Inc. raised its position in Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock worth $25,000 after acquiring an additional 123 shares in the last quarter. Tradewinds Capital Management LLC lifted its holdings in Novo Nordisk A/S by 2.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 4,984 shares of the company's stock valued at $429,000 after acquiring an additional 124 shares during the period. Exencial Wealth Advisors LLC lifted its holdings in Novo Nordisk A/S by 0.5% in the fourth quarter. Exencial Wealth Advisors LLC now owns 23,094 shares of the company's stock valued at $1,987,000 after acquiring an additional 124 shares during the period. Finally, Indie Asset Partners LLC boosted its position in shares of Novo Nordisk A/S by 4.2% during the 4th quarter. Indie Asset Partners LLC now owns 3,128 shares of the company's stock worth $269,000 after purchasing an additional 126 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Up 2.8%

Shares of NYSE:NVO traded up $2.05 during trading on Friday, reaching $74.70. The stock had a trading volume of 9,535,540 shares, compared to its average volume of 6,881,021. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $148.15. The business has a fifty day moving average price of $65.73 and a 200-day moving average price of $80.90. The stock has a market cap of $335.22 billion, a P/E ratio of 22.71, a PEG ratio of 0.90 and a beta of 0.66. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting analysts' consensus estimates of $0.92. The company 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%. As a group, analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NVO shares. Wall Street Zen upgraded shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th. BMO Capital Markets restated a "market perform" rating and issued 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. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Finally, BNP Paribas began coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $128.00.

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.