Novo Nordisk A/S (NYSE:NVO) Shares Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 23.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,509 shares of the company's stock after buying an additional 7,801 shares during the period. Elevation Point Wealth Partners LLC's holdings in Novo Nordisk A/S were worth $2,882,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NVO. Salem Investment Counselors Inc. grew its stake in shares of Novo Nordisk A/S by 7.1% in the first quarter. Salem Investment Counselors Inc. now owns 23,475 shares of the company's stock valued at $1,655,000 after buying an additional 1,549 shares in the last quarter. Opinicus Capital Inc. boosted its holdings in Novo Nordisk A/S by 29.8% in the 1st quarter. Opinicus Capital Inc. now owns 4,593 shares of the company's stock worth $319,000 after acquiring an additional 1,054 shares during the period. Stanley Laman Group Ltd. purchased a new position in Novo Nordisk A/S in the 1st quarter worth approximately $390,000. Lynch Asset Management Inc. grew its position in Novo Nordisk A/S by 1.1% in the first quarter. Lynch Asset Management Inc. now owns 108,100 shares of the company's stock valued at $7,506,000 after acquiring an additional 1,150 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE acquired a new position in shares of Novo Nordisk A/S during the first quarter worth $6,148,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

NYSE:NVO traded down $1.15 during trading hours on Friday, reaching $79.90. 7,465,072 shares of the stock were exchanged, compared to its average volume of 7,025,619. The stock has a market capitalization of $358.57 billion, a P/E ratio of 24.29, a P/E/G ratio of 0.90 and a beta of 0.66. The firm has a 50 day simple moving average of $67.30 and a 200-day simple moving average of $79.82. 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 has a 52 week low of $57.00 and a 52 week high of $148.15.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.92. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. The company had revenue of $11.87 billion for the quarter. As a group, sell-side analysts forecast 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 research firms recently weighed in on NVO. BMO Capital Markets reaffirmed a "market perform" rating and set a $64.00 price target (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. BNP Paribas started coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating on the stock. Guggenheim lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $112.00.

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.