Pecaut & CO. Takes Position in Novo Nordisk A/S (NYSE:NVO)

Pecaut & CO. bought a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 21,587 shares of the company's stock, valued at approximately $1,499,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BIP Wealth LLC boosted its holdings in Novo Nordisk A/S by 3.9% during the 4th quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock valued at $313,000 after acquiring an additional 138 shares during the period. Xponance Inc. boosted its stake in shares of Novo Nordisk A/S by 4.9% in the 4th quarter. Xponance Inc. now owns 3,156 shares of the company's stock worth $271,000 after buying an additional 146 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 3.6% in the 1st 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 last quarter. LRI Investments LLC raised its holdings in Novo Nordisk A/S by 1.4% during the fourth quarter. LRI Investments LLC now owns 13,060 shares of the company's stock valued at $1,123,000 after acquiring an additional 176 shares during the period. Finally, Beacon Financial Group raised its holdings in Novo Nordisk A/S by 6.5% during the first quarter. Beacon Financial Group now owns 2,884 shares of the company's stock valued at $200,000 after acquiring an additional 177 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 subject of a number of research reports. BNP Paribas initiated coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating for the company. Guggenheim cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. BMO Capital Markets reissued a "market perform" rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Finally, Dbs Bank lowered shares of Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Two investment 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $112.00.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $65.34 on Friday. The stock has a market cap of $291.73 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.29 and a beta of 0.64. The business's fifty day moving average is $70.37 and its 200 day moving average is $74.53. Novo Nordisk A/S has a 12-month low of $57.00 and a 12-month high of $139.74. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70.

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

About Novo Nordisk A/S

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.