Webster Bank N. A. Purchases 34,736 Shares of Novo Nordisk A/S (NYSE:NVO)

Webster Bank N. A. increased its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 708.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,637 shares of the company's stock after buying an additional 34,736 shares during the period. Webster Bank N. A.'s holdings in Novo Nordisk A/S were worth $2,752,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NVO. Center for Financial Planning Inc. raised its position in shares of Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock valued at $25,000 after acquiring an additional 123 shares during the last quarter. Strategic Investment Solutions Inc. IL raised its holdings 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 buying an additional 300 shares during the period. Park Square Financial Group LLC bought a new stake in Novo Nordisk A/S in the 4th quarter valued at $29,000. Transce3nd LLC bought a new position in shares of Novo Nordisk A/S during the fourth quarter worth about $33,000. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $39,000. 11.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NVO shares. Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Stifel Nicolaus downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. BMO Capital Markets reissued a "market perform" rating and issued a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Finally, Guggenheim downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.00.

Novo Nordisk A/S Trading Up 2.8%

NYSE:NVO traded up $1.94 during mid-day trading on Friday, hitting $71.40. 11,185,051 shares of the company's stock were exchanged, compared to its average volume of 6,787,412. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $148.15. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $320.41 billion, a P/E ratio of 21.70, a PEG ratio of 0.90 and a beta of 0.65. The company has a 50 day simple moving average of $65.58 and a 200-day simple moving average of $81.77.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. The firm had revenue of $11.87 billion during the quarter. As a group, research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current 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.