Future Financial Wealth Managment LLC Acquires New Position in Novo Nordisk A/S (NYSE:NVO)

Future Financial Wealth Managment LLC bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,000 shares of the company’s stock, valued at approximately $128,000.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Novo Nordisk A/S by 245.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 68,477 shares of the company’s stock worth $6,227,000 after buying an additional 48,678 shares during the period. Rhumbline Advisers grew its position in shares of Novo Nordisk A/S by 121.6% during the third quarter. Rhumbline Advisers now owns 59,322 shares of the company’s stock worth $5,395,000 after purchasing an additional 32,551 shares in the last quarter. Invesco Ltd. raised its stake in Novo Nordisk A/S by 100.0% during the 3rd quarter. Invesco Ltd. now owns 574,667 shares of the company’s stock valued at $52,260,000 after purchasing an additional 287,308 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in Novo Nordisk A/S by 100.2% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 3,777 shares of the company’s stock valued at $343,000 after purchasing an additional 1,890 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in Novo Nordisk A/S by 94.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 18,179 shares of the company’s stock worth $1,653,000 after purchasing an additional 8,832 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, June 17th. BMO Capital Markets reaffirmed an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a research note on Tuesday. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. Finally, Argus raised their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $144.51 on Friday. The firm has a fifty day simple moving average of $134.16 and a two-hundred day simple moving average of $122.88. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $148.15. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $648.49 billion, a P/E ratio of 49.83, a PEG ratio of 1.43 and a beta of 0.41.

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

Novo Nordisk A/S Profile

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.