MCF Advisors LLC Purchases 329 Shares of Novo Nordisk A/S (NYSE:NVO)

MCF Advisors LLC boosted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 69.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 805 shares of the company’s stock after purchasing an additional 329 shares during the period. MCF Advisors LLC’s holdings in Novo Nordisk A/S were worth $103,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Opinicus Capital Inc. bought a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $619,000. Independence Bank of Kentucky boosted its stake in Novo Nordisk A/S by 10.6% in the first quarter. Independence Bank of Kentucky now owns 2,350 shares of the company’s stock worth $302,000 after purchasing an additional 225 shares in the last quarter. Norris Perne & French LLP MI bought a new stake in shares of Novo Nordisk A/S during the first quarter worth $202,000. OneAscent Financial Services LLC increased its stake in shares of Novo Nordisk A/S by 11.9% in the first quarter. OneAscent Financial Services LLC now owns 3,779 shares of the company’s stock valued at $487,000 after buying an additional 401 shares in the last quarter. Finally, Webster Bank N. A. raised its holdings in shares of Novo Nordisk A/S by 1.9% in the first quarter. Webster Bank N. A. now owns 5,351 shares of the company’s stock valued at $687,000 after buying an additional 101 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on NVO. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective on the stock. Argus boosted their price objective 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. BMO Capital Markets reiterated an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Trading Down 1.2 %

NYSE:NVO opened at $142.74 on Friday. The firm has a market capitalization of $640.55 billion, a price-to-earnings ratio of 49.22, a PEG ratio of 1.42 and a beta of 0.41. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $148.15. The business’s 50-day moving average price is $135.00 and its two-hundred day moving average price is $123.54. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17.

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