Brown Miller Wealth Management LLC Invests $534,000 in Novo Nordisk A/S $NVO

Brown Miller Wealth Management LLC acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 14,520 shares of the company’s stock, valued at approximately $534,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Capital International Investors grew its holdings in Novo Nordisk A/S by 52.4% during the 3rd quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock valued at $982,969,000 after buying an additional 6,092,192 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Novo Nordisk A/S by 6.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 17,135,384 shares of the company’s stock valued at $871,848,000 after acquiring an additional 969,916 shares during the period. Franklin Resources Inc. boosted its position in shares of Novo Nordisk A/S by 5.1% in the fourth quarter. Franklin Resources Inc. now owns 14,702,508 shares of the company’s stock valued at $748,064,000 after acquiring an additional 717,719 shares during the period. Morgan Stanley grew its stake in Novo Nordisk A/S by 3.5% during the fourth quarter. Morgan Stanley now owns 12,842,089 shares of the company’s stock valued at $653,406,000 after acquiring an additional 428,660 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Novo Nordisk A/S by 99.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock valued at $492,940,000 after acquiring an additional 4,836,285 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 0.6%

Shares of NVO opened at $48.36 on Tuesday. Novo Nordisk A/S has a 1 year low of $35.12 and a 1 year high of $71.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56. The stock has a 50 day simple moving average of $43.94 and a two-hundred day simple moving average of $45.83. The firm has a market cap of $215.93 billion, a P/E ratio of 11.35, a P/E/G ratio of 4.33 and a beta of 0.78.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. The firm had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. On average, analysts forecast that Novo Nordisk A/S will post 3.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NVO shares. TD Cowen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a report on Tuesday, March 10th. Weiss Ratings lowered Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 22nd. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Morgan Stanley upgraded Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $40.00 target price on the stock in a research note on Tuesday, March 3rd. Finally, Wolfe Research began coverage on Novo Nordisk A/S in a report on Thursday, March 26th. They issued a “peer perform” rating on the stock. Five analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $65.56.

Novo Nordisk A/S Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.