Liberty Wealth Management LLC Purchases Shares of 28,881 Novo Nordisk A/S (NYSE:NVO)

Key Points

• Liberty Wealth Management LLC purchased 28,881 shares of Novo Nordisk A/S worth approximately $2,005,000 in the first quarter, marking a significant investment in the company.
• Shares of Novo Nordisk A/S have experienced a rise of 2.5%, with the stock currently trading at $48.23.
• Analysts have downgraded Novo Nordisk A/S from "strong-buy" to "hold," with an average target price set at $93.67, indicating mixed sentiments about the stock's future.

Liberty Wealth Management LLC purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 28,881 shares of the company's stock, valued at approximately $2,005,000.

Several other hedge funds have also bought and sold shares of NVO. BIP Wealth LLC raised its holdings in shares of Novo Nordisk A/S by 3.9% in the fourth quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock worth $313,000 after buying an additional 138 shares during the period. Xponance Inc. raised its holdings in shares of Novo Nordisk A/S by 5.0% in the first quarter. Xponance Inc. now owns 3,314 shares of the company's stock worth $230,000 after buying an additional 158 shares during the period. 180 Wealth Advisors LLC raised its holdings in shares of Novo Nordisk A/S by 3.6% in the first quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after buying an additional 173 shares during the period. LRI Investments LLC raised its holdings in shares of Novo Nordisk A/S by 1.4% in the fourth quarter. LRI Investments LLC now owns 13,060 shares of the company's stock worth $1,123,000 after buying an additional 176 shares during the period. Finally, Beacon Financial Group raised its holdings in shares of Novo Nordisk A/S by 6.5% in the first quarter. Beacon Financial Group now owns 2,884 shares of the company's stock worth $200,000 after buying an additional 177 shares during the period. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Up 2.5%

Shares of NYSE NVO opened at $48.23 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $215.35 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. Novo Nordisk A/S has a 12-month low of $46.90 and a 12-month high of $139.74. The stock's fifty day simple moving average is $69.26 and its two-hundred day simple moving average is $72.58.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting analysts' consensus estimates of $0.92. The firm had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. As a group, analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. HSBC cut Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a research note on Thursday. Hsbc Global Res cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday. BNP Paribas assumed coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating on the stock. Finally, Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $93.67.

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.

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