Phoenix Financial Ltd. Raises Stock Position in Novo Nordisk A/S $NVO

Phoenix Financial Ltd. lifted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 101.0% during the 3rd quarter, Holdings Channel reports. The firm owned 109,326 shares of the company’s stock after buying an additional 54,948 shares during the period. Phoenix Financial Ltd.’s holdings in Novo Nordisk A/S were worth $6,130,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC grew its stake in shares of Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after acquiring an additional 200 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Novo Nordisk A/S by 21.0% in the first quarter. AQR Capital Management LLC now owns 62,099 shares of the company’s stock valued at $4,312,000 after purchasing an additional 10,758 shares during the period. Sivia Capital Partners LLC grew its stake in Novo Nordisk A/S by 18.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 10,320 shares of the company’s stock worth $712,000 after purchasing an additional 1,587 shares in the last quarter. Avior Wealth Management LLC increased its holdings in Novo Nordisk A/S by 7.9% during the 2nd quarter. Avior Wealth Management LLC now owns 19,152 shares of the company’s stock worth $1,322,000 after purchasing an additional 1,402 shares during the period. Finally, Sound Income Strategies LLC raised its position in Novo Nordisk A/S by 194.5% in the 2nd quarter. Sound Income Strategies LLC now owns 2,692 shares of the company’s stock valued at $186,000 after purchasing an additional 1,778 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NVO. CICC Research started coverage on Novo Nordisk A/S in a research report on Friday, January 9th. They set an “outperform” rating and a $73.50 price objective for the company. Hsbc Global Res cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Jefferies Financial Group initiated coverage on shares of Novo Nordisk A/S in a research report on Monday, October 27th. They issued an “underperform” rating on the stock. Argus restated a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, December 8th. Finally, BMO Capital Markets set a $57.00 target price on shares of Novo Nordisk A/S in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $57.79.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $63.96 on Tuesday. Novo Nordisk A/S has a 12 month low of $43.08 and a 12 month high of $93.80. The firm has a market capitalization of $285.58 billion, a P/E ratio of 18.59 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.57. The company’s fifty day moving average price is $52.44 and its 200 day moving average price is $54.54.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.25. The company had revenue of $11.79 billion for the quarter, compared to analyst estimates of $11.98 billion. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.