LexAurum Advisors LLC Boosts Holdings in Novo Nordisk A/S (NYSE:NVO)

LexAurum Advisors LLC increased its position in Novo Nordisk A/S (NYSE:NVO) by 33.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,648 shares of the company’s stock after purchasing an additional 662 shares during the period. LexAurum Advisors LLC’s holdings in Novo Nordisk A/S were worth $340,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Morgan Stanley increased its stake in shares of Novo Nordisk A/S by 96.5% in the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after buying an additional 4,526,199 shares during the period. Folketrygdfondet increased its stake in shares of Novo Nordisk A/S by 2.7% in the fourth quarter. Folketrygdfondet now owns 8,631,264 shares of the company’s stock worth $892,904,000 after buying an additional 225,822 shares during the period. Capital International Investors increased its stake in shares of Novo Nordisk A/S by 22.3% in the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after buying an additional 1,297,536 shares during the period. Royal Bank of Canada increased its stake in shares of Novo Nordisk A/S by 109.2% in the third quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock worth $331,300,000 after buying an additional 1,901,429 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Novo Nordisk A/S by 110.4% in the third quarter. Northern Trust Corp now owns 3,585,407 shares of the company’s stock worth $326,057,000 after buying an additional 1,881,264 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NVO opened at $141.95 on Friday. The stock has a 50-day moving average price of $132.94 and a 200-day moving average price of $121.73. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The firm has a market cap of $637.00 billion, a PE ratio of 48.95, a P/E/G ratio of 1.40 and a beta of 0.41. Novo Nordisk A/S has a 1 year low of $75.56 and a 1 year high of $144.50.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. The firm had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. Sell-side analysts predict that Novo Nordisk A/S will post 3.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NVO shares. Argus lifted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, June 17th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Finally, BMO Capital Markets initiated coverage on shares of 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 equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Company 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.