Financial Partners Group LLC Raises Stock Position in Novo Nordisk A/S (NYSE:NVO)

Financial Partners Group LLC increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 27.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,306 shares of the company’s stock after buying an additional 3,922 shares during the quarter. Financial Partners Group LLC’s holdings in Novo Nordisk A/S were worth $1,271,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Broderick Brian C increased its holdings in shares of Novo Nordisk A/S by 452.9% in the 1st quarter. Broderick Brian C now owns 32,711 shares of the company’s stock valued at $2,271,000 after acquiring an additional 26,795 shares during the period. Wolf Group Capital Advisors purchased a new position in Novo Nordisk A/S during the 1st quarter worth $290,000. Cornerstone Wealth Management LLC increased its stake in Novo Nordisk A/S by 22.8% in the first quarter. Cornerstone Wealth Management LLC now owns 6,864 shares of the company’s stock valued at $477,000 after purchasing an additional 1,275 shares during the period. Clarius Group LLC raised its holdings in shares of Novo Nordisk A/S by 21.5% in the first quarter. Clarius Group LLC now owns 13,281 shares of the company’s stock valued at $922,000 after buying an additional 2,351 shares during the last quarter. Finally, Hemenway Trust Co LLC boosted its stake in shares of Novo Nordisk A/S by 486.5% during the first quarter. Hemenway Trust Co LLC now owns 63,080 shares of the company’s stock worth $4,380,000 after buying an additional 52,324 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVO. BMO Capital Markets restated a “market perform” rating and issued a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Hsbc Global Res upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Guggenheim lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. Finally, Stifel Nicolaus cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Hold” and a consensus price target of $112.00.

Novo Nordisk A/S Price Performance

NVO opened at $74.38 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56. Novo Nordisk A/S has a 12 month low of $57.00 and a 12 month high of $148.15. The business has a 50 day simple moving average of $67.80 and a 200-day simple moving average of $79.21.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. On average, research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS 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.