Patten & Patten Inc. TN Boosts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Key Points

• Patten & Patten Inc. TN increased its stake in Novo Nordisk A/S by 40.2%, holding 30,647 shares valued at approximately $2.13 million as of the latest SEC filing.
• Various institutional investors have also adjusted their holdings in Novo Nordisk A/S, with some significantly increasing their positions, indicating growing interest in the stock.
• Analyst ratings are mixed, with some firms rating it as a buy or hold, while others like BNP Paribas suggest an "underperform" rating, reflecting differing views on the company's performance outlook.

Patten & Patten Inc. TN raised its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 40.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,647 shares of the company's stock after acquiring an additional 8,792 shares during the period. Patten & Patten Inc. TN's holdings in Novo Nordisk A/S were worth $2,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL increased its position in Novo Nordisk A/S by 2,727.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock worth $27,000 after purchasing an additional 300 shares during the period. Park Square Financial Group LLC acquired a new position in Novo Nordisk A/S during the 4th quarter worth approximately $29,000. Transce3nd LLC acquired a new position in Novo Nordisk A/S during the 4th quarter worth approximately $33,000. North Capital Inc. acquired a new position in Novo Nordisk A/S during the 1st quarter worth approximately $27,000. Finally, Copeland Capital Management LLC increased its position in Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after purchasing an additional 255 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on NVO. BNP Paribas began coverage on Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating on the stock. BMO Capital Markets restated a "market perform" rating and issued a $64.00 price target (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 report on Saturday, June 14th. Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Finally, Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $112.00.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $71.67 on Monday. The business's fifty day moving average price is $70.67 and its two-hundred day moving average price is $73.63. The stock has a market cap of $320.00 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.38 and a beta of 0.64. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. Novo Nordisk A/S has a one year low of $57.00 and a one year high of $139.74.

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 return on equity of 80.94% and a net margin of 34.52%. On average, analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

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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