Brown Miller Wealth Management LLC Makes New Investment in Novo Nordisk A/S $NVO

Brown Miller Wealth Management LLC acquired a new stake in Novo Nordisk A/S (NYSE:NVO) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 14,520 shares of the company’s stock, valued at approximately $534,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NVO. Godfrey Financial Associates Inc. bought a new stake in Novo Nordisk A/S in the fourth quarter worth approximately $25,000. WealthCollab LLC lifted its stake in Novo Nordisk A/S by 93.5% in the fourth quarter. WealthCollab LLC now owns 538 shares of the company’s stock valued at $27,000 after buying an additional 260 shares during the period. American National Bank & Trust bought a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $28,000. Maseco LLP bought a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $29,000. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Novo Nordisk A/S during the 4th quarter worth approximately $29,000. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NVO shares. Citigroup reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Tuesday, May 12th. TD Cowen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a research note on Tuesday, March 10th. Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Nordea Equity Research raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Friday, June 19th. Finally, Morgan Stanley upgraded shares of Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock in a report on Tuesday, March 3rd. Five investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Hold” and an average target price of $65.56.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $48.36 on Tuesday. The firm has a market capitalization of $215.93 billion, a P/E ratio of 11.35, a P/E/G ratio of 4.33 and a beta of 0.78. The stock has a 50 day moving average price of $43.94 and a two-hundred day moving average price of $45.83. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $71.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. The company had revenue of $10.85 billion during the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%. Equities analysts forecast that Novo Nordisk A/S will post 3.42 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.