WCM Investment Management LLC Buys 97,477 Shares of Novo Nordisk A/S $NVO

WCM Investment Management LLC lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 3.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,732,182 shares of the company’s stock after buying an additional 97,477 shares during the period. WCM Investment Management LLC’s holdings in Novo Nordisk A/S were worth $151,636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lockheed Martin Investment Management Co. boosted its position in shares of Novo Nordisk A/S by 179.4% during the second quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock valued at $2,999,000 after purchasing an additional 27,900 shares in the last quarter. Martin Capital Partners LLC lifted its position in Novo Nordisk A/S by 53.8% during the third quarter. Martin Capital Partners LLC now owns 117,577 shares of the company’s stock valued at $6,524,000 after buying an additional 41,129 shares during the period. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Novo Nordisk A/S during the third quarter valued at $1,294,000. Guild Investment Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 20.7% during the 2nd quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock valued at $2,553,000 after buying an additional 6,345 shares in the last quarter. Finally, Markel Group Inc. grew its position in shares of Novo Nordisk A/S by 4.9% in the 3rd quarter. Markel Group Inc. now owns 2,368,649 shares of the company’s stock worth $131,436,000 after buying an additional 110,061 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $59.01 on Tuesday. Novo Nordisk A/S has a twelve month low of $43.08 and a twelve month high of $93.80. The company has a market capitalization of $263.46 billion, a P/E ratio of 17.15 and a beta of 0.66. The firm has a 50 day moving average of $53.72 and a 200 day moving average of $54.28. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.77 by $0.25. The business had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%. As a group, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVO. The Goldman Sachs Group reissued a “buy” rating on shares of Novo Nordisk A/S in a research report on Thursday, January 22nd. Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. BMO Capital Markets set a $57.00 price target on Novo Nordisk A/S in a research report on Monday, January 26th. CICC Research began coverage on Novo Nordisk A/S in a research note on Friday, January 9th. They issued an “outperform” rating and a $73.50 price target on the stock. Finally, HSBC reaffirmed a “hold” rating and set a $54.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.79.

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.