Keudell Morrison Wealth Management Has $973,000 Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Keudell Morrison Wealth Management grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,170 shares of the company’s stock after buying an additional 451 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Novo Nordisk A/S were worth $973,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVO. Price T Rowe Associates Inc. MD increased its position in Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after purchasing an additional 823,036 shares during the period. Envestnet Asset Management Inc. increased its position in Novo Nordisk A/S by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after purchasing an additional 58,935 shares during the period. GQG Partners LLC increased its position in Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after purchasing an additional 3,151,584 shares during the period. Raymond James & Associates increased its position in Novo Nordisk A/S by 1.0% in the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after purchasing an additional 36,223 shares during the period. Finally, 1832 Asset Management L.P. increased its position in Novo Nordisk A/S by 7.8% in the first quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock worth $304,697,000 after purchasing an additional 172,003 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Up 1.8 %

Shares of NVO traded up $1.85 on Thursday, hitting $107.21. The company’s stock had a trading volume of 1,409,372 shares, compared to its average volume of 4,405,508. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average price is $122.65 and its 200-day moving average price is $130.59. The firm has a market capitalization of $481.11 billion, a price-to-earnings ratio of 36.08, a P/E/G ratio of 1.43 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. On average, equities research analysts expect that Novo Nordisk A/S will post 3.01 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on NVO. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets decreased their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Buy” and a consensus target price of $144.50.

About Novo Nordisk A/S

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.