Value Partners Investments Inc. Takes Position in Novo Nordisk A/S (NYSE:NVO)

Value Partners Investments Inc. purchased a new stake in Novo Nordisk A/S (NYSE:NVO) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 90,525 shares of the company’s stock, valued at approximately $6,293,000. Novo Nordisk A/S makes up 0.5% of Value Partners Investments Inc.’s investment portfolio, making the stock its 27th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of Novo Nordisk A/S by 58.5% in the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock valued at $5,410,000 after purchasing an additional 23,223 shares in the last quarter. North Star Investment Management Corp. grew its position in shares of Novo Nordisk A/S by 18.2% in the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company’s stock valued at $1,440,000 after purchasing an additional 3,200 shares in the last quarter. Stanley Laman Group Ltd. purchased a new position in shares of Novo Nordisk A/S in the first quarter valued at $390,000. Dover Advisors LLC purchased a new position in shares of Novo Nordisk A/S in the first quarter valued at $505,000. Finally, SVB Wealth LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at $1,250,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 4.8%

Shares of NVO stock opened at $67.37 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $68.70 and a two-hundred day moving average price of $77.86. Novo Nordisk A/S has a 12-month low of $57.00 and a 12-month high of $145.99. The firm has a market cap of $300.81 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 1.26 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. The firm had revenue of $11.87 billion during the quarter. Equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Dbs Bank cut Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. BMO Capital Markets restated a “market perform” rating and set a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Hsbc Global Res upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, April 28th. Finally, Guggenheim cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $112.00.

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.