Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Fox Hill Wealth Management

Fox Hill Wealth Management grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 121.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,320 shares of the company’s stock after buying an additional 15,525 shares during the quarter. Novo Nordisk A/S accounts for about 2.4% of Fox Hill Wealth Management’s holdings, making the stock its 9th biggest position. Fox Hill Wealth Management’s holdings in Novo Nordisk A/S were worth $3,636,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Novo Nordisk A/S by 245.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 68,477 shares of the company’s stock valued at $6,227,000 after purchasing an additional 48,678 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Novo Nordisk A/S by 121.6% during the third quarter. Rhumbline Advisers now owns 59,322 shares of the company’s stock valued at $5,395,000 after purchasing an additional 32,551 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Novo Nordisk A/S by 288.4% during the third quarter. Qube Research & Technologies Ltd now owns 594,324 shares of the company’s stock valued at $54,048,000 after purchasing an additional 441,288 shares in the last quarter. Bank of Nova Scotia bought a new position in shares of Novo Nordisk A/S during the third quarter valued at about $263,000. Finally, Toronto Dominion Bank lifted its position in shares of Novo Nordisk A/S by 93.3% during the third quarter. Toronto Dominion Bank now owns 45,912 shares of the company’s stock valued at $4,175,000 after purchasing an additional 22,165 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $1.75 during midday trading on Friday, hitting $142.74. The company’s stock had a trading volume of 2,757,544 shares, compared to its average volume of 3,502,773. The stock has a fifty day moving average price of $135.00 and a 200 day moving average price of $123.54. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $148.15. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $640.55 billion, a price-to-earnings ratio of 49.22, a P/E/G ratio of 1.42 and a beta of 0.41.

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, beating the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The company had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.23 billion. On average, research analysts forecast that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Argus raised 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 research report on Monday, June 10th. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, June 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average 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.