Grimes & Company Inc. Grows Stock Position in Novo Nordisk A/S (NYSE:NVO)

Grimes & Company Inc. lifted its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 106,953 shares of the company's stock after purchasing an additional 3,273 shares during the period. Grimes & Company Inc.'s holdings in Novo Nordisk A/S were worth $7,427,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL grew its holdings in shares of Novo Nordisk A/S by 2,727.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock worth $27,000 after acquiring an additional 300 shares during the period. Park Square Financial Group LLC purchased a new position in shares of Novo Nordisk A/S during the 4th quarter worth $29,000. Transce3nd LLC purchased a new position in shares of Novo Nordisk A/S during the 4th quarter worth $33,000. CX Institutional purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth $36,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Novo Nordisk A/S in the 4th quarter worth $39,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $77.02 on Tuesday. The stock has a market capitalization of $345.62 billion, a P/E ratio of 23.41, a P/E/G ratio of 0.90 and a beta of 0.66. Novo Nordisk A/S has a 1 year low of $57.00 and a 1 year high of $148.15. The business's fifty day moving average is $67.61 and its two-hundred day moving average is $79.24. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74.

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, meeting the consensus estimate 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%. On average, research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NVO shares. Guggenheim downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. BMO Capital Markets reaffirmed a "market perform" rating and set a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. BNP Paribas began coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They set an "underperform" rating on the stock. Finally, Stifel Nicolaus cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price 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.

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