Kornitzer Capital Management Inc. KS purchased a new position in Novo Nordisk A/S (NYSE:NVO) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 41,000 shares of the company’s stock, valued at approximately $2,120,000.
A number of other large investors have also recently bought and sold shares of NVO. Advisors Preferred LLC acquired a new position in Novo Nordisk A/S in the second quarter worth about $26,000. Winthrop Partners WNY LLC bought a new position in Novo Nordisk A/S in the third quarter worth about $28,000. Valeo Financial Advisors LLC lifted its holdings in Novo Nordisk A/S by 510.7% in the second quarter. Valeo Financial Advisors LLC now owns 629 shares of the company’s stock worth $32,000 after acquiring an additional 526 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in Novo Nordisk A/S by 75.6% in the second quarter. Wealthcare Advisory Partners LLC now owns 864 shares of the company’s stock worth $44,000 after acquiring an additional 372 shares during the last quarter. Finally, Mirova bought a new position in Novo Nordisk A/S in the second quarter worth about $49,000. Institutional investors and hedge funds own 7.36% of the company’s stock.
NVO has been the topic of a number of recent research reports. Pareto Securities raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Jefferies Financial Group cut shares of Novo Nordisk A/S from a “hold” rating to an “underperform” rating in a report on Friday, August 30th. ValuEngine raised shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Zacks Investment Research raised shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating and set a $50.00 target price on the stock in a report on Monday, July 15th. Finally, Citigroup raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $159.65.
Shares of NVO traded up $1.50 during mid-day trading on Friday, reaching $57.87. 1,768,123 shares of the company’s stock traded hands, compared to its average volume of 1,410,802. The business’s 50-day moving average price is $53.15 and its 200-day moving average price is $50.60. The stock has a market capitalization of $135.11 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 2.28 and a beta of 0.61. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 1.00. Novo Nordisk A/S has a 12 month low of $43.12 and a 12 month high of $57.93.
Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Friday, November 1st. The company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. The company had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.55 billion. Novo Nordisk A/S had a return on equity of 75.48% and a net margin of 32.44%. Equities research analysts anticipate that Novo Nordisk A/S will post 2.45 EPS for the current year.
About Novo Nordisk A/S
Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.
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