Novo Nordisk A/S $NVO Position Increased by Allen Wealth Management LLC

Allen Wealth Management LLC lifted its holdings in Novo Nordisk A/S (NYSE:NVO) by 960.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 30,905 shares of the company’s stock after buying an additional 27,990 shares during the quarter. Novo Nordisk A/S makes up 1.2% of Allen Wealth Management LLC’s portfolio, making the stock its 19th biggest position. Allen Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $1,715,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Revolve Wealth Partners LLC increased its position in Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after buying an additional 200 shares during the period. State of Wyoming bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $38,000. Ancora Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 15.1% during the first quarter. Ancora Advisors LLC now owns 3,237 shares of the company’s stock valued at $225,000 after purchasing an additional 425 shares during the last quarter. AQR Capital Management LLC boosted its stake in Novo Nordisk A/S by 21.0% in the 1st quarter. AQR Capital Management LLC now owns 62,099 shares of the company’s stock worth $4,312,000 after purchasing an additional 10,758 shares during the period. Finally, Integrated Wealth Concepts LLC grew its holdings in shares of Novo Nordisk A/S by 6.5% during the first quarter. Integrated Wealth Concepts LLC now owns 26,712 shares of the company’s stock valued at $1,855,000 after buying an additional 1,630 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of Novo Nordisk A/S in a research note on Tuesday, December 23rd. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. The Goldman Sachs Group dropped their price objective on shares of Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Finally, Morgan Stanley restated an “underweight” rating and set a $42.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $53.33.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $52.38 on Monday. The company has a 50 day moving average price of $49.08 and a two-hundred day moving average price of $55.71. Novo Nordisk A/S has a 12-month low of $43.08 and a 12-month high of $93.80. The stock has a market capitalization of $233.85 billion, a PE ratio of 15.23 and a beta of 0.66. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. The business had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. As a group, equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.