Financial Gravity Asset Management Inc. Makes New $1.79 Million Investment in Novo Nordisk A/S (NYSE:NVO)

Financial Gravity Asset Management Inc. bought a new position in Novo Nordisk A/S (NYSE:NVO - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,730 shares of the company's stock, valued at approximately $1,787,000.

Several other large investors have also made changes to their positions in the company. BIP Wealth LLC lifted its holdings in shares of Novo Nordisk A/S by 3.9% during the 4th quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock valued at $313,000 after acquiring an additional 138 shares in the last quarter. Xponance Inc. boosted its position in shares of Novo Nordisk A/S by 4.9% in the fourth quarter. Xponance Inc. now owns 3,156 shares of the company's stock worth $271,000 after buying an additional 146 shares during the period. Mystic Asset Management Inc. grew its stake in shares of Novo Nordisk A/S by 1.2% in the fourth quarter. Mystic Asset Management Inc. now owns 13,185 shares of the company's stock valued at $1,134,000 after buying an additional 150 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Novo Nordisk A/S by 0.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 31,670 shares of the company's stock worth $2,724,000 after acquiring an additional 151 shares in the last quarter. Finally, Diversified Enterprises LLC boosted its holdings in Novo Nordisk A/S by 2.8% in the 4th quarter. Diversified Enterprises LLC now owns 6,388 shares of the company's stock worth $549,000 after acquiring an additional 172 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

NYSE:NVO traded down $2.22 during trading hours on Friday, reaching $68.79. 4,814,450 shares of the stock were exchanged, compared to its average volume of 7,296,314. The stock has a market capitalization of $307.16 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.36 and a beta of 0.64. The firm has a 50 day simple moving average of $70.36 and a 200-day simple moving average of $75.21. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70. Novo Nordisk A/S has a 52 week low of $57.00 and a 52 week high of $143.49.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. The firm 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 Analysts Forecast Growth

NVO has been the subject of several analyst reports. Dbs Bank downgraded shares of Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. BMO Capital Markets reiterated a "market perform" rating and issued a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Wall Street Zen upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Finally, BNP Paribas started coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an "underperform" rating for the company. 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 stock. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of "Hold" and an average price target of $112.00.

Novo Nordisk A/S 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.