Avidian Wealth Solutions LLC Raises Position in Novo Nordisk A/S (NYSE:NVO)

Avidian Wealth Solutions LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,865 shares of the company’s stock after acquiring an additional 474 shares during the period. Avidian Wealth Solutions LLC’s holdings in Novo Nordisk A/S were worth $814,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. CNB Bank purchased a new position in shares of Novo Nordisk A/S in the fourth quarter worth $26,000. Pacific Center for Financial Services raised its position in Novo Nordisk A/S by 100.0% in the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the last quarter. Valued Wealth Advisors LLC bought a new position in Novo Nordisk A/S during the 4th quarter valued at about $28,000. Bell Investment Advisors Inc boosted its holdings in shares of Novo Nordisk A/S by 79.9% during the 3rd quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock valued at $26,000 after acquiring an additional 127 shares during the last quarter. Finally, Tyler Stone Wealth Management grew its stake in shares of Novo Nordisk A/S by 100.0% in the third quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock worth $27,000 after acquiring an additional 146 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NVO shares. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, April 18th. BMO Capital Markets assumed coverage on Novo Nordisk A/S in a report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price objective for the company. UBS Group began coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price target for the company. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus price target of $133.60.

Novo Nordisk A/S Stock Performance

NYSE:NVO traded down $0.97 during mid-day trading on Friday, hitting $123.05. 5,932,926 shares of the company traded hands, compared to its average volume of 3,905,318. The stock’s fifty day moving average price is $127.20 and its 200-day moving average price is $113.10. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $138.28. The firm has a market cap of $552.19 billion, a price-to-earnings ratio of 42.43, a price-to-earnings-growth ratio of 2.06 and a beta of 0.43.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 92.21%. The company had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.14 billion. Research analysts anticipate that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Novo Nordisk A/S Profile

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.