Independent Financial Group LLC Purchases Shares of 12,105 Novo Nordisk A/S $NVO

Independent Financial Group LLC acquired a new stake in Novo Nordisk A/S (NYSE:NVO) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,105 shares of the company’s stock, valued at approximately $445,000.

A number of other hedge funds have also recently made changes to their positions in the business. Romano Brothers AND Company increased its holdings in Novo Nordisk A/S by 704.0% in the 4th quarter. Romano Brothers AND Company now owns 34,236 shares of the company’s stock valued at $1,742,000 after purchasing an additional 29,978 shares during the last quarter. Capital Investment Counsel LLC acquired a new position in Novo Nordisk A/S during the fourth quarter worth $3,727,000. Marathon Capital Management lifted its stake in Novo Nordisk A/S by 43.9% during the fourth quarter. Marathon Capital Management now owns 82,705 shares of the company’s stock worth $4,208,000 after purchasing an additional 25,230 shares in the last quarter. Banque Pictet & Cie SA boosted its position in shares of Novo Nordisk A/S by 68.2% during the fourth quarter. Banque Pictet & Cie SA now owns 86,648 shares of the company’s stock worth $4,409,000 after buying an additional 35,142 shares during the period. Finally, Burney Co. acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at $1,374,000. 11.54% of the stock is currently 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 moving average price is $46.28 and its 200 day moving average price is $45.72. The firm has a market capitalization of $215.12 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 4.39 and a beta of 0.77. Novo Nordisk A/S has a fifty-two week low of $35.12 and a fifty-two week high of $71.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NVO. Citigroup reiterated a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday. Zacks Research downgraded Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Wolfe Research initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, March 26th. They set a “peer perform” rating on the stock. HSBC reissued a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Novo Nordisk A/S in a report on Monday. Five investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $65.56.

Novo Nordisk A/S Company 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.