Van ECK Associates Corp Buys 51,451 Shares of Novo Nordisk A/S (NYSE:NVO)

Van ECK Associates Corp raised its position in shares of Novo Nordisk A/S (NYSE:NVO) by 18.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 324,737 shares of the company’s stock after acquiring an additional 51,451 shares during the quarter. Van ECK Associates Corp’s holdings in Novo Nordisk A/S were worth $33,594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVO. CNB Bank bought a new position in Novo Nordisk A/S in the fourth quarter worth $26,000. Pacific Center for Financial Services increased its stake in shares of 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 acquiring an additional 135 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in Novo Nordisk A/S during the 4th quarter valued at about $28,000. Bell Investment Advisors Inc boosted its stake in Novo Nordisk A/S by 79.9% during the third quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares in the last quarter. Finally, Tyler Stone Wealth Management grew its holdings in 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 purchasing an additional 146 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 1.1 %

Shares of NYSE:NVO opened at $128.28 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. Novo Nordisk A/S has a 1 year low of $75.56 and a 1 year high of $138.28. The company has a market cap of $575.66 billion, a P/E ratio of 47.42, a PEG ratio of 2.12 and a beta of 0.41. The stock’s fifty day moving average price is $127.05 and its 200-day moving average price is $112.58.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NVO. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, April 18th. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They issued an “outperform” rating and a $163.00 target price on the stock. Morgan Stanley began coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price target for the company. Finally, UBS Group initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating on the stock. Two investment 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 currently has an average rating of “Moderate Buy” and an average price target of $133.60.

About Novo Nordisk A/S

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.