Pekin Hardy Strauss Inc. Invests $265,000 in Novo Nordisk A/S (NYSE:NVO)

Pekin Hardy Strauss Inc. purchased a new position in Novo Nordisk A/S (NYSE:NVO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,560 shares of the company’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brookstone Capital Management raised its holdings in shares of Novo Nordisk A/S by 91.4% in the 3rd quarter. Brookstone Capital Management now owns 14,339 shares of the company’s stock worth $1,400,000 after buying an additional 6,846 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Novo Nordisk A/S by 107.4% during the third quarter. Commonwealth Equity Services LLC now owns 196,053 shares of the company’s stock valued at $17,829,000 after acquiring an additional 101,509 shares during the period. SVB Wealth LLC boosted its stake in shares of Novo Nordisk A/S by 108.2% in the 3rd quarter. SVB Wealth LLC now owns 27,626 shares of the company’s stock valued at $2,512,000 after purchasing an additional 14,360 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Novo Nordisk A/S by 149.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 141,953 shares of the company’s stock worth $12,909,000 after purchasing an additional 85,022 shares during the last quarter. Finally, Xponance Inc. bought a new position in Novo Nordisk A/S during the 3rd quarter valued at about $248,000. Institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NVO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Morgan Stanley started 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. UBS Group started coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets began coverage on Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price on the stock. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.60.

Novo Nordisk A/S Stock Up 0.7 %

Shares of NVO opened at $129.24 on Thursday. The firm has a market capitalization of $579.97 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 2.14 and a beta of 0.43. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $138.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. The business’s fifty day moving average price is $127.22 and its two-hundred day moving average price is $112.70.

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, beating analysts’ consensus estimates of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The company had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.14 billion. On average, analysts predict that Novo Nordisk A/S will post 3.32 earnings per share for the current 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.