Hennion & Walsh Asset Management Inc. Invests $849,000 in Novo Nordisk A/S (NYSE:NVO)

Hennion & Walsh Asset Management Inc. acquired a new stake in Novo Nordisk A/S (NYSE:NVO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,610 shares of the company’s stock, valued at approximately $849,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Criterion Capital Advisors LLC grew its position in shares of Novo Nordisk A/S by 23.3% in the first quarter. Criterion Capital Advisors LLC now owns 8,762 shares of the company’s stock valued at $1,125,000 after purchasing an additional 1,654 shares during the last quarter. MCF Advisors LLC grew its holdings in Novo Nordisk A/S by 69.1% during the 1st quarter. MCF Advisors LLC now owns 805 shares of the company’s stock valued at $103,000 after buying an additional 329 shares during the last quarter. Opinicus Capital Inc. purchased a new position in Novo Nordisk A/S during the first quarter worth $619,000. Independence Bank of Kentucky raised its holdings in shares of 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 acquiring an additional 225 shares during the last quarter. Finally, Norris Perne & French LLP MI purchased a new stake in shares of Novo Nordisk A/S in the first quarter valued at $202,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVO has been the subject of a number of recent research reports. BMO Capital Markets reiterated an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Argus upped their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Stock Up 1.9 %

Shares of NVO opened at $145.42 on Tuesday. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $148.15. The company’s fifty day moving average is $135.00 and its two-hundred day moving average is $123.71. The firm has a market cap of $652.58 billion, a PE ratio of 50.14, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating 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 firm had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Analysts forecast that Novo Nordisk A/S will post 3.41 earnings per share for the current year.

Novo Nordisk A/S Company 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.