NewEdge Wealth LLC Has $3.07 Million Holdings in Novo Nordisk A/S $NVO

NewEdge Wealth LLC raised its position in shares of Novo Nordisk A/S (NYSE:NVO) by 19.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,615 shares of the company’s stock after buying an additional 13,849 shares during the quarter. NewEdge Wealth LLC’s holdings in Novo Nordisk A/S were worth $3,073,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Romano Brothers AND Company grew its position in Novo Nordisk A/S by 704.0% during the 4th quarter. Romano Brothers AND Company now owns 34,236 shares of the company’s stock worth $1,742,000 after purchasing an additional 29,978 shares in the last quarter. Capital Investment Counsel LLC purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at $3,727,000. Marathon Capital Management lifted its holdings in shares of Novo Nordisk A/S by 43.9% in the fourth quarter. Marathon Capital Management now owns 82,705 shares of the company’s stock valued at $4,208,000 after purchasing an additional 25,230 shares in the last quarter. Banque Pictet & Cie SA boosted its position in shares of Novo Nordisk A/S by 68.2% in the fourth quarter. Banque Pictet & Cie SA now owns 86,648 shares of the company’s stock worth $4,409,000 after buying an additional 35,142 shares during the period. Finally, Burney Co. acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter worth $1,374,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Up 1.2%

Novo Nordisk A/S stock opened at $48.76 on Friday. The company’s fifty day simple moving average is $46.36 and its 200-day simple moving average is $45.74. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. Novo Nordisk A/S has a 12 month low of $35.12 and a 12 month high of $71.79. The stock has a market cap of $217.71 billion, a P/E ratio of 11.45, a P/E/G ratio of 4.39 and a beta of 0.77.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The business had revenue of $10.85 billion for the quarter. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 3.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NVO shares. Nordea Equity Research raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Friday, June 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Novo Nordisk A/S in a research note on Monday. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Zacks Research cut Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, HSBC reiterated a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.56.

Novo Nordisk A/S Company 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.