Naples Global Advisors LLC Buys Shares of 11,764 Novo Nordisk A/S (NYSE:NVO)

Naples Global Advisors LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,764 shares of the company's stock, valued at approximately $829,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC raised its holdings in shares of Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock valued at $214,000 after buying an additional 200 shares during the period. abrdn plc raised its holdings in shares of Novo Nordisk A/S by 12.0% in the 4th quarter. abrdn plc now owns 260,169 shares of the company's stock valued at $22,304,000 after buying an additional 27,784 shares during the period. Hager Investment Management Services LLC purchased a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at $46,000. LCM Capital Management Inc raised its holdings in shares of Novo Nordisk A/S by 18.2% in the 4th quarter. LCM Capital Management Inc now owns 3,860 shares of the company's stock valued at $332,000 after buying an additional 594 shares during the period. Finally, Insight Advisors LLC PA raised its holdings in shares of Novo Nordisk A/S by 34.4% in the 4th quarter. Insight Advisors LLC PA now owns 6,825 shares of the company's stock valued at $585,000 after buying an additional 1,747 shares during the period. Hedge funds and other institutional investors own 11.54% of the company's stock.

Wall Street Analysts Forecast Growth

NVO has been the topic of several research analyst reports. Kepler Capital Markets upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. BNP Paribas initiated coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating on the stock. Guggenheim downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Stifel Nicolaus cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets reissued a "market perform" rating and set a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $128.00.

Novo Nordisk A/S Trading Up 0.7%

NVO opened at $72.57 on Friday. Novo Nordisk A/S has a 12 month low of $57.00 and a 12 month high of $148.15. The stock has a market capitalization of $325.64 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 0.90 and a beta of 0.66. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The business has a fifty day moving average price of $65.73 and a 200 day moving average price of $80.90.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released 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. The business had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

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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