Alpha Cubed Investments LLC Increases Holdings in Novo Nordisk A/S (NYSE:NVO)

Alpha Cubed Investments LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 512.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,800 shares of the company’s stock after buying an additional 11,546 shares during the period. Alpha Cubed Investments LLC’s holdings in Novo Nordisk A/S were worth $1,428,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NVO. Brookstone Capital Management raised its holdings in shares of Novo Nordisk A/S by 91.4% during the 3rd quarter. Brookstone Capital Management now owns 14,339 shares of the company’s stock valued at $1,400,000 after buying an additional 6,846 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Novo Nordisk A/S by 107.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 196,053 shares of the company’s stock worth $17,829,000 after purchasing an additional 101,509 shares during the period. Balboa Wealth Partners purchased a new position in Novo Nordisk A/S in the 3rd quarter worth approximately $209,000. SVB Wealth LLC increased its stake in Novo Nordisk A/S by 108.2% in the 3rd quarter. SVB Wealth LLC now owns 27,626 shares of the company’s stock worth $2,512,000 after purchasing an additional 14,360 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Novo Nordisk A/S by 149.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 141,953 shares of the company’s stock worth $12,909,000 after purchasing an additional 85,022 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 0.3 %

NYSE NVO opened at $127.91 on Wednesday. The stock’s 50 day moving average is $127.05 and its 200 day moving average is $112.58. The firm has a market capitalization of $574.00 billion, a PE ratio of 47.42, a P/E/G ratio of 2.12 and a beta of 0.41. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $138.28. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. The business had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Research analysts forecast that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on NVO shares. UBS Group started coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating on the stock. BMO Capital Markets started coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They issued an “outperform” rating and a $163.00 price target on the stock. Morgan Stanley started coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.60.

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.