WCM Investment Management LLC Increases Stock Position in Novo Nordisk A/S $NVO

WCM Investment Management LLC raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,732,182 shares of the company’s stock after purchasing an additional 97,477 shares during the quarter. WCM Investment Management LLC owned 0.06% of Novo Nordisk A/S worth $151,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. True Wealth Design LLC grew its position in Novo Nordisk A/S by 209.8% in the third quarter. True Wealth Design LLC now owns 443 shares of the company’s stock worth $25,000 after acquiring an additional 300 shares in the last quarter. Guerra Advisors Inc bought a new stake in Novo Nordisk A/S during the third quarter worth about $25,000. NewSquare Capital LLC boosted its holdings in shares of Novo Nordisk A/S by 174.1% in the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after purchasing an additional 282 shares in the last quarter. Mid American Wealth Advisory Group Inc. bought a new position in shares of Novo Nordisk A/S during the 2nd quarter valued at about $37,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of Novo Nordisk A/S during the 3rd quarter valued at about $39,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $59.01 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The firm has a market cap of $263.46 billion, a P/E ratio of 17.15 and a beta of 0.66. Novo Nordisk A/S has a 1-year low of $43.08 and a 1-year high of $93.80. The firm has a 50-day moving average of $53.72 and a 200-day moving average of $54.28.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NVO shares. Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Citigroup began coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 27th. They set a “neutral” rating on the stock. Hsbc Global Res cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d+)” rating on shares of Novo Nordisk A/S in a research report on Monday, December 29th. Finally, HSBC reiterated a “hold” rating and issued a $54.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $57.79.

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.