Financial Gravity Asset Management Inc. Takes Position in Novo Nordisk A/S (NYSE:NVO)

Financial Gravity Asset Management Inc. purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 25,730 shares of the company's stock, valued at approximately $1,787,000.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of Novo Nordisk A/S by 58.5% during the fourth 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. North Star Investment Management Corp. lifted its stake in Novo Nordisk A/S by 18.2% in the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock worth $1,440,000 after purchasing an additional 3,200 shares during the last quarter. Stanley Laman Group Ltd. bought a new stake in Novo Nordisk A/S in the first quarter worth about $390,000. Dover Advisors LLC bought a new stake in Novo Nordisk A/S in the first quarter worth about $505,000. Finally, Meridian Investment Counsel Inc. raised its stake in shares of Novo Nordisk A/S by 95.4% during the fourth quarter. Meridian Investment Counsel Inc. now owns 45,697 shares of the company's stock valued at $3,931,000 after acquiring an additional 22,314 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NVO shares. Kepler Capital Markets raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Guggenheim lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Wall Street Zen raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an "underperform" rating on the stock. Finally, Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $112.00.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $69.80 on Thursday. The company's fifty day moving average price is $70.25 and its 200 day moving average price is $75.33. Novo Nordisk A/S has a 12 month low of $57.00 and a 12 month high of $143.49. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56. The firm has a market capitalization of $311.66 billion, a P/E ratio of 20.65, a P/E/G ratio of 1.36 and a beta of 0.64.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.92. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. The business had revenue of $11.87 billion for the quarter. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

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.

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