Spirit of America Management Corp NY Purchases New Position in Novo Nordisk A/S (NYSE:NVO)

Spirit of America Management Corp NY bought a new stake in Novo Nordisk A/S (NYSE:NVO) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 500 shares of the company’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL boosted its stake in shares of Novo Nordisk A/S by 2,727.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Park Square Financial Group LLC acquired a new position in Novo Nordisk A/S in the fourth quarter valued at about $29,000. Transce3nd LLC acquired a new position in Novo Nordisk A/S in the fourth quarter valued at about $33,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Novo Nordisk A/S in the 4th quarter worth approximately $39,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Novo Nordisk A/S in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NVO shares. BNP Paribas initiated coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an “underperform” rating on the stock. Hsbc Global Res raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. BMO Capital Markets reiterated a “market perform” rating and set a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Guggenheim lowered shares of 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 given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $112.00.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $73.76 on Friday. 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 has a 12-month low of $57.00 and a 12-month high of $148.15. The stock’s fifty day simple moving average is $68.41 and its 200-day simple moving average is $78.69.

Novo Nordisk A/S (NYSE:NVO) 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. The business had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. Research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S 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.