JustInvest LLC Purchases New Stake in Novo Nordisk A/S (NYSE:NVO)

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JustInvest LLC bought a new position in Novo Nordisk A/S (NYSE:NVO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,438 shares of the company’s stock, valued at approximately $1,291,000. Novo Nordisk A/S comprises about 0.8% of JustInvest LLC’s investment portfolio, making the stock its 28th largest holding.

A number of other hedge funds have also recently modified their holdings of NVO. WASHINGTON TRUST Co acquired a new position in Novo Nordisk A/S in the 1st quarter worth about $27,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Novo Nordisk A/S in the 1st quarter worth about $30,000. TD Capital Management LLC acquired a new position in Novo Nordisk A/S in the 1st quarter worth about $30,000. Westside Investment Management Inc. acquired a new position in Novo Nordisk A/S in the 1st quarter worth about $36,000. Finally, Evolution Wealth Advisors LLC increased its position in Novo Nordisk A/S by 1,551.2% in the 4th quarter. Evolution Wealth Advisors LLC now owns 677 shares of the company’s stock worth $39,000 after purchasing an additional 636 shares during the last quarter. 6.69% of the stock is currently owned by institutional investors.

NVO has been the topic of several research reports. UBS Group lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Bank of America upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Monday, March 16th. Morgan Stanley reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Monday, May 18th. Societe Generale reiterated a “sell” rating on shares of Novo Nordisk A/S in a research note on Thursday, May 7th. Finally, ValuEngine upgraded Novo Nordisk A/S from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $163.55.

NYSE:NVO traded down $0.62 during mid-day trading on Tuesday, hitting $65.08. 41,165 shares of the company’s stock traded hands, compared to its average volume of 1,355,521. The firm has a 50 day moving average of $63.54 and a two-hundred day moving average of $59.92. Novo Nordisk A/S has a 12 month low of $47.24 and a 12 month high of $66.10. The firm has a market capitalization of $153.70 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 2.39 and a beta of 0.46. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.05.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, May 6th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.07. Novo Nordisk A/S had a return on equity of 73.87% and a net margin of 31.91%. The firm had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.70 billion. As a group, equities research analysts expect that Novo Nordisk A/S will post 2.67 earnings per share for the current year.

About Novo Nordisk A/S

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

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

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