Novo Nordisk A/S (NYSE:NVO) Position Boosted by RFG Advisory LLC

RFG Advisory LLC grew its position in Novo Nordisk A/S (NYSE:NVO) by 81.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,742 shares of the company’s stock after buying an additional 4,835 shares during the quarter. RFG Advisory LLC’s holdings in Novo Nordisk A/S were worth $1,379,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Morgan Stanley raised its position in Novo Nordisk A/S by 96.5% during the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after acquiring an additional 4,526,199 shares in the last quarter. Folketrygdfondet lifted its position in shares of Novo Nordisk A/S by 2.7% during the 4th quarter. Folketrygdfondet now owns 8,631,264 shares of the company’s stock worth $892,904,000 after purchasing an additional 225,822 shares during the last quarter. Capital International Investors increased its position in Novo Nordisk A/S by 22.3% in the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after buying an additional 1,297,536 shares during the period. Royal Bank of Canada lifted its holdings in shares of Novo Nordisk A/S by 109.2% during the third quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock worth $331,300,000 after buying an additional 1,901,429 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Novo Nordisk A/S by 110.4% in the third quarter. Northern Trust Corp now owns 3,585,407 shares of the company’s stock valued at $326,057,000 after acquiring an additional 1,881,264 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, June 17th. BMO Capital Markets assumed coverage on shares of Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price on the stock. Argus boosted their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Stock Up 0.7 %

Shares of NYSE:NVO opened at $141.96 on Friday. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $144.50. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The company’s fifty day moving average is $132.94 and its 200-day moving average is $121.88. The company has a market capitalization of $637.05 billion, a PE ratio of 48.95, a P/E/G ratio of 1.40 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. The business had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. Equities research analysts predict that Novo Nordisk A/S will post 3.41 earnings per share 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.