Alpha Cubed Investments LLC Raises Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Alpha Cubed Investments LLC increased its position in Novo Nordisk A/S (NYSE:NVO) by 512.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 13,800 shares of the company’s stock after buying an additional 11,546 shares during the period. Alpha Cubed Investments LLC’s holdings in Novo Nordisk A/S were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. Jennison Associates LLC raised its stake in Novo Nordisk A/S by 100.3% in the 3rd quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock worth $2,129,761,000 after acquiring an additional 11,727,507 shares during the last quarter. Polen Capital Management LLC purchased a new position in shares of Novo Nordisk A/S during the 3rd quarter valued at about $718,995,000. FMR LLC raised its stake in shares of Novo Nordisk A/S by 122.7% during the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock valued at $1,098,328,000 after buying an additional 6,654,614 shares during the last quarter. Morgan Stanley raised its stake in shares of Novo Nordisk A/S by 96.5% during the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after buying an additional 4,526,199 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of Novo Nordisk A/S by 91.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock valued at $827,354,000 after buying an additional 4,350,862 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO stock opened at $127.91 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. The business has a 50 day simple moving average of $127.05 and a 200-day simple moving average of $112.58. The firm has a market capitalization of $574.00 billion, a PE ratio of 47.42, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. Novo Nordisk A/S has a 1 year low of $75.56 and a 1 year high of $138.28.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. Equities research analysts anticipate that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.