Aviance Capital Partners LLC Has $2.08 Million Holdings in Novo Nordisk A/S (NYSE:NVO)

Aviance Capital Partners LLC raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 6.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,223 shares of the company’s stock after purchasing an additional 1,017 shares during the period. Aviance Capital Partners LLC’s holdings in Novo Nordisk A/S were worth $2,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Pacific Center for Financial Services raised its position in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the period. First PREMIER Bank acquired a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $25,000. CNB Bank acquired a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $26,000. West Paces Advisors Inc. raised its holdings in Novo Nordisk A/S by 100.0% during the 3rd quarter. West Paces Advisors Inc. now owns 300 shares of the company’s stock worth $27,000 after buying an additional 150 shares during the period. Finally, Valued Wealth Advisors LLC acquired a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $28,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded up $1.73 during mid-day trading on Monday, hitting $144.47. 600,676 shares of the company’s stock traded hands, compared to its average volume of 4,417,041. The firm has a 50 day simple moving average of $135.00 and a two-hundred day simple moving average of $123.71. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $148.15. The stock has a market cap of $648.31 billion, a price-to-earnings ratio of 49.22, a P/E/G ratio of 1.42 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $9.23 billion. On average, research analysts expect that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.

Analysts Set New Price Targets

NVO has been the topic of several research analyst reports. BMO Capital Markets restated an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, June 17th. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. Finally, Argus raised their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus price target of $145.67.

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.