Gibbs Wealth Management Grows Stock Holdings in Novo Nordisk A/S $NVO

Gibbs Wealth Management raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 115.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,273 shares of the company’s stock after acquiring an additional 21,065 shares during the period. Gibbs Wealth Management’s holdings in Novo Nordisk A/S were worth $1,443,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NVO. Loomis Sayles & Co. L P raised its position in Novo Nordisk A/S by 6.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 17,135,384 shares of the company’s stock worth $871,848,000 after acquiring an additional 969,916 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Novo Nordisk A/S by 5.1% during the 4th quarter. Franklin Resources Inc. now owns 14,702,508 shares of the company’s stock worth $748,064,000 after purchasing an additional 717,719 shares in the last quarter. Morgan Stanley boosted its position in shares of Novo Nordisk A/S by 3.5% during the 4th quarter. Morgan Stanley now owns 12,842,089 shares of the company’s stock worth $653,406,000 after purchasing an additional 428,660 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Novo Nordisk A/S by 99.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock worth $492,940,000 after purchasing an additional 4,836,285 shares during the period. Finally, State Street Corp grew its stake in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. State Street Corp now owns 6,106,836 shares of the company’s stock worth $340,125,000 after purchasing an additional 59,153 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 0.0%

NVO stock opened at $48.18 on Friday. The company’s 50 day simple moving average is $46.28 and its 200-day simple moving average is $45.72. The firm has a market capitalization of $215.12 billion, a PE ratio of 11.31, a P/E/G ratio of 4.39 and a beta of 0.77. Novo Nordisk A/S has a 12 month low of $35.12 and a 12 month high of $71.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. The firm had revenue of $10.85 billion during the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%. Equities analysts expect that Novo Nordisk A/S will post 3.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Novo Nordisk A/S in a research note on Monday. HSBC restated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Friday, June 19th. Zacks Research lowered Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Wolfe Research initiated coverage on Novo Nordisk A/S in a report on Thursday, March 26th. They issued a “peer perform” rating on the stock. Five investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.56.

Novo Nordisk A/S Profile

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.