GAMMA Investing LLC Purchases 648,680 Shares of Novo Nordisk A/S (NYSE:NVO)

GAMMA Investing LLC boosted its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 7,508.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 657,319 shares of the company's stock after purchasing an additional 648,680 shares during the period. GAMMA Investing LLC's holdings in Novo Nordisk A/S were worth $45,644,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its stake in Novo Nordisk A/S by 34.0% in the 1st quarter. AdvisorNet Financial Inc now owns 3,741 shares of the company's stock worth $260,000 after purchasing an additional 950 shares during the period. Webster Bank N. A. raised its holdings in Novo Nordisk A/S by 708.8% during the 1st quarter. Webster Bank N. A. now owns 39,637 shares of the company's stock valued at $2,752,000 after buying an additional 34,736 shares during the last quarter. Sage Capital Advisors llc purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at $3,210,000. Moody National Bank Trust Division purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at $224,000. Finally, General Partner Inc. grew its holdings in Novo Nordisk A/S by 136.4% in the 1st quarter. General Partner Inc. now owns 2,080 shares of the company's stock worth $144,000 after acquiring an additional 1,200 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Up 2.9%

Shares of NYSE NVO traded up $2.14 during mid-day trading on Friday, hitting $74.79. 7,407,678 shares of the stock traded hands, compared to its average volume of 6,873,312. The company has a market cap of $335.63 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 0.90 and a beta of 0.66. The stock has a fifty day moving average price of $65.73 and a 200-day moving average price of $80.90. Novo Nordisk A/S has a 52 week low of $57.00 and a 52 week high of $148.15. 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 announced its earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting analysts' consensus estimates of $0.92. The firm had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. Research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NVO shares. Guggenheim downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. BNP Paribas started coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They set an "underperform" rating on the stock. Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Wall Street Zen upgraded Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Stifel Nicolaus downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of "Hold" and an average price target of $128.00.

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.