Novo Nordisk A/S (NYSE:NVO) Shares Bought by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 7.1% in the first quarter, Holdings Channel.com reports. The fund owned 23,475 shares of the company’s stock after acquiring an additional 1,549 shares during the period. Salem Investment Counselors Inc.’s holdings in Novo Nordisk A/S were worth $1,655,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Center for Financial Planning Inc. lifted its holdings in Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after acquiring an additional 123 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in 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 acquiring an additional 300 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in Novo Nordisk A/S in the 4th quarter valued at about $29,000. Transce3nd LLC acquired a new stake in Novo Nordisk A/S in the 4th quarter valued at about $33,000. Finally, CX Institutional acquired a new stake in Novo Nordisk A/S during the 1st quarter worth about $36,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVO has been the topic of several recent analyst reports. Hsbc Global Res upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, April 28th. BMO Capital Markets restated a “market perform” rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Guggenheim downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. Finally, Wall Street Zen upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Saturday. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Hold” and a consensus target price of $112.00.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $79.90 on Friday. The company has a market capitalization of $358.57 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 0.90 and a beta of 0.66. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The business’s 50-day moving average is $67.30 and its 200-day moving average is $79.82.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. The company had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Equities research analysts expect that Novo Nordisk A/S will post 3.84 EPS 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.