Kovack Advisors Inc. Makes New $810,000 Investment in Novo Nordisk A/S (NYSE:NVO)

Kovack Advisors Inc. bought a new position in Novo Nordisk A/S (NYSE:NVO) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,309 shares of the company’s stock, valued at approximately $810,000.

Other institutional investors have also made changes to their positions in the company. Bank of Nova Scotia acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth $263,000. Toronto Dominion Bank grew its position in shares of Novo Nordisk A/S by 93.3% during the 3rd quarter. Toronto Dominion Bank now owns 45,912 shares of the company’s stock valued at $4,175,000 after buying an additional 22,165 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Novo Nordisk A/S by 142.9% during the third quarter. Advisors Asset Management Inc. now owns 45,625 shares of the company’s stock worth $4,149,000 after acquiring an additional 26,843 shares during the period. Ameriprise Financial Inc. lifted its holdings in Novo Nordisk A/S by 116.3% in the third quarter. Ameriprise Financial Inc. now owns 1,071,126 shares of the company’s stock worth $97,565,000 after acquiring an additional 575,818 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in Novo Nordisk A/S by 102.9% in the third quarter. Evergreen Capital Management LLC now owns 27,765 shares of the company’s stock valued at $2,525,000 after acquiring an additional 14,081 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday. BMO Capital Markets reissued an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Finally, Argus upped 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 report on Monday, June 10th. Two 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 stock. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Trading Down 2.9 %

Novo Nordisk A/S stock opened at $138.87 on Friday. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $148.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a market capitalization of $623.18 billion, a PE ratio of 47.89, a price-to-earnings-growth ratio of 1.37 and a beta of 0.41. The firm has a 50 day simple moving average of $135.95 and a 200-day simple moving average of $124.47.

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, 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 during the quarter, compared to analyst estimates of $9.23 billion. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.44 EPS 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.