Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 18.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 324,737 shares of the company’s stock after purchasing an additional 51,451 shares during the quarter. Van ECK Associates Corp’s holdings in Novo Nordisk A/S were worth $33,594,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CNB Bank purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter worth about $26,000. Pacific Center for Financial Services lifted its holdings in Novo Nordisk A/S by 100.0% in the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the period. Valued Wealth Advisors LLC purchased a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $28,000. Bell Investment Advisors Inc grew its stake in shares of Novo Nordisk A/S by 79.9% during the 3rd quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares during the period. Finally, Tyler Stone Wealth Management increased its holdings in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock valued at $27,000 after purchasing an additional 146 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVO. BMO Capital Markets initiated coverage on shares of Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 price target on the stock. UBS Group initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They set a “neutral” rating for the company. Morgan Stanley started coverage on shares of 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 reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Trading Up 1.1 %

Shares of NVO opened at $128.28 on Wednesday. The firm’s fifty day moving average is $127.05 and its two-hundred day moving average is $112.58. The stock has a market cap of $575.66 billion, a PE ratio of 47.42, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. 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 has a 52-week low of $75.56 and a 52-week high of $138.28.

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