Lifestyle Asset Management Inc. Makes New $262,000 Investment in Novo Nordisk A/S (NYSE:NVO)

Lifestyle Asset Management Inc. purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,043 shares of the company’s stock, valued at approximately $262,000.

A number of other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Novo Nordisk A/S by 245.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 68,477 shares of the company’s stock valued at $6,227,000 after buying an additional 48,678 shares during the last quarter. Bank of Nova Scotia acquired a new position in shares of Novo Nordisk A/S during the third quarter worth approximately $263,000. Toronto Dominion Bank grew its stake 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 during the last quarter. Ancora Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 100.0% in the third quarter. Ancora Advisors LLC now owns 2,538 shares of the company’s stock valued at $231,000 after purchasing an additional 1,269 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in Novo Nordisk A/S by 638.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $44,000 after purchasing an additional 415 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. Argus increased their price objective 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. BMO Capital Markets reaffirmed an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Trading Down 2.7 %

Novo Nordisk A/S stock traded down $3.87 during mid-day trading on Wednesday, hitting $139.11. 7,455,753 shares of the company’s stock were exchanged, compared to its average volume of 4,481,115. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $148.15. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $624.26 billion, a P/E ratio of 48.68, a PEG ratio of 1.42 and a beta of 0.41. The company’s 50 day simple moving average is $135.69 and its 200-day simple moving average is $124.37.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The business had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.41 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.