Tritonpoint Wealth LLC Buys 806 Shares of Novo Nordisk A/S (NYSE:NVO)

Tritonpoint Wealth LLC grew its stake in Novo Nordisk A/S (NYSE:NVO) by 5.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 16,378 shares of the company’s stock after purchasing an additional 806 shares during the period. Tritonpoint Wealth LLC’s holdings in Novo Nordisk A/S were worth $1,155,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NVO. Center for Financial Planning Inc. lifted its stake in shares of 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 purchasing an additional 123 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted 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 during the last quarter. Park Square Financial Group LLC bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $29,000. Transce3nd LLC bought a new stake in shares of Novo Nordisk A/S during the 4th quarter worth approximately $33,000. Finally, CX Institutional bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $36,000. 11.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVO. Hsbc Global Res raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Wall Street Zen raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Saturday. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Stifel Nicolaus lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets reissued a “market perform” rating and set a $64.00 price target (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $112.00.

Novo Nordisk A/S Trading Down 1.4%

NVO opened at $79.90 on Friday. The stock’s fifty day moving average is $67.30 and its two-hundred day moving average is $79.63. The company has a market capitalization of $358.57 billion, a P/E ratio of 24.29, a PEG ratio of 0.90 and a beta of 0.66. Novo Nordisk A/S has a 52 week low of $57.00 and a 52 week high of $148.15. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, hitting the consensus estimate 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%. Analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current 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.