Morningstar Investment Services LLC Invests $251,000 in Novo Nordisk A/S (NYSE:NVO)

Morningstar Investment Services LLC bought a new stake in Novo Nordisk A/S (NYSE:NVOFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,430 shares of the company’s stock, valued at approximately $251,000.

Other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. raised its stake in Novo Nordisk A/S by 83.3% in the third quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock valued at $130,000 after buying an additional 649 shares during the period. Lazard Asset Management LLC lifted its holdings in Novo Nordisk A/S by 182.2% during the 3rd quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company’s stock valued at $135,883,000 after purchasing an additional 964,640 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after purchasing an additional 26,067 shares during the period. One Capital Management LLC acquired a new position in shares of Novo Nordisk A/S in the third quarter valued at $203,000. Finally, Advisor Resource Council acquired a new position in shares of Novo Nordisk A/S in the fourth quarter valued at $997,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $142.88 on Friday. The firm’s 50 day simple moving average is $129.73 and its 200 day simple moving average is $119.11. The firm has a market capitalization of $641.18 billion, a price-to-earnings ratio of 49.27, a P/E/G ratio of 1.48 and a beta of 0.41. 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 has a 1 year low of $75.56 and a 1 year high of $143.73.

Novo Nordisk A/S (NYSE:NVOGet Free Report) 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 the consensus estimate of $9.23 billion. As a group, research analysts expect that Novo Nordisk A/S will post 3.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently 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 target price for the company. 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 Thursday, April 18th. Finally, BMO Capital Markets assumed coverage on Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 price target for the company. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus price target of $137.33.

Read Our Latest Analysis on NVO

About Novo Nordisk A/S

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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