Divergent Planning LLC Takes $281,000 Position in Novo Nordisk A/S (NYSE:NVO)

Divergent Planning LLC purchased a new stake in Novo Nordisk A/S (NYSE:NVOFree Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 2,205 shares of the company’s stock, valued at approximately $281,000. Novo Nordisk A/S comprises about 0.1% of Divergent Planning LLC’s portfolio, making the stock its 23rd largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in Novo Nordisk A/S by 245.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 68,477 shares of the company’s stock valued at $6,227,000 after buying an additional 48,678 shares during the period. Rhumbline Advisers lifted its holdings in shares of Novo Nordisk A/S by 121.6% in the 3rd quarter. Rhumbline Advisers now owns 59,322 shares of the company’s stock worth $5,395,000 after acquiring an additional 32,551 shares during the last quarter. Invesco Ltd. grew its holdings in Novo Nordisk A/S by 100.0% during the 3rd quarter. Invesco Ltd. now owns 574,667 shares of the company’s stock valued at $52,260,000 after purchasing an additional 287,308 shares during the last quarter. LPL Financial LLC lifted its stake in Novo Nordisk A/S by 152.7% in the third quarter. LPL Financial LLC now owns 760,846 shares of the company’s stock worth $69,191,000 after purchasing an additional 459,737 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Novo Nordisk A/S by 100.4% in the third quarter. Federated Hermes Inc. now owns 244,816 shares of the company’s stock worth $22,264,000 after acquiring an additional 122,622 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock traded up $5.00 on Tuesday, hitting $147.28. The company had a trading volume of 2,924,732 shares, compared to its average volume of 4,450,120. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $147.55. The firm has a market cap of $660.92 billion, a P/E ratio of 50.28, a price-to-earnings-growth ratio of 1.41 and a beta of 0.41. The company has a 50-day moving average price of $133.31 and a 200-day moving average price of $122.37. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. As a group, equities research analysts predict that Novo Nordisk A/S will post 3.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on NVO. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, June 17th. BMO Capital Markets assumed coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price objective for the company. Argus boosted their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.67.

Check Out Our Latest Report on NVO

About Novo Nordisk A/S

(Free Report)

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.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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