Procyon Advisors LLC Grows Position in Novo Nordisk A/S (NYSE:NVO)

Procyon Advisors LLC boosted its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 39.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 77,227 shares of the company's stock after buying an additional 21,756 shares during the quarter. Procyon Advisors LLC's holdings in Novo Nordisk A/S were worth $5,363,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NVO. Victory Capital Management Inc. raised its stake in shares of Novo Nordisk A/S by 58.5% during the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company's stock valued at $5,410,000 after acquiring an additional 23,223 shares during the last quarter. Bryn Mawr Capital Management LLC increased its holdings in Novo Nordisk A/S by 358.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company's stock valued at $3,346,000 after purchasing an additional 30,420 shares during the period. DSM Capital Partners LLC raised its position in Novo Nordisk A/S by 16.7% during the 4th quarter. DSM Capital Partners LLC now owns 2,007,412 shares of the company's stock valued at $172,678,000 after purchasing an additional 286,912 shares during the last quarter. Channing Global Advisors LLC bought a new position in Novo Nordisk A/S during the 4th quarter valued at approximately $354,000. Finally, Compagnie Lombard Odier SCmA lifted its holdings in Novo Nordisk A/S by 5.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 67,745 shares of the company's stock worth $5,827,000 after buying an additional 3,200 shares during the period. Hedge funds and other institutional investors own 11.54% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on NVO. Wall Street Zen upgraded Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th. Dbs Bank cut shares of Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Finally, BNP Paribas assumed coverage on Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $128.00.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $72.57 on Friday. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $148.15. The firm's 50-day simple moving average is $65.73 and its two-hundred day simple moving average is $80.90. The stock has a market cap of $325.64 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 0.90 and a beta of 0.66. 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 posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The company had revenue of $11.87 billion for the quarter. Analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share 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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