Kestra Private Wealth Services LLC Acquires 11,661 Shares of Novo Nordisk A/S $NVO

Kestra Private Wealth Services LLC increased its holdings in Novo Nordisk A/S (NYSE:NVO) by 38.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,003 shares of the company’s stock after purchasing an additional 11,661 shares during the period. Kestra Private Wealth Services LLC’s holdings in Novo Nordisk A/S were worth $1,544,000 as of its most recent SEC filing.

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 $25,000. WealthCollab LLC grew its stake in shares of Novo Nordisk A/S by 93.5% during 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 last quarter. American National Bank & Trust purchased a new position in shares of Novo Nordisk A/S in the fourth quarter worth about $28,000. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Novo Nordisk A/S in the fourth quarter worth about $29,000. Finally, Maseco LLP bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $29,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $48.36 on Tuesday. The company has a current ratio of 0.79, a quick ratio of 0.56 and a debt-to-equity ratio of 0.59. The firm has a market cap 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. Novo Nordisk A/S has a 1-year low of $35.12 and a 1-year high of $71.79. The firm has a 50-day moving average of $43.94 and a 200-day moving average of $45.83.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%.The company had revenue of $10.85 billion for the quarter. Sell-side analysts expect that Novo Nordisk A/S will post 3.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NVO shares. Morgan Stanley upgraded Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $40.00 target price for the company in a report on Tuesday, March 3rd. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings lowered Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 22nd. Citigroup restated a “neutral” rating on shares of Novo Nordisk A/S in a report on Tuesday, May 12th. Finally, Wolfe Research began coverage on shares of Novo Nordisk A/S in a research note on Thursday, March 26th. They issued a “peer perform” rating on the stock. Five investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.56.

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.