Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV boosted its position in Novo Nordisk A/S (NYSE:NVO) by 0.6% during the 1st quarter, Holdings Channel reports. The fund owned 35,168 shares of the company’s stock after acquiring an additional 193 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Novo Nordisk A/S were worth $4,516,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its holdings in Novo Nordisk A/S by 83.3% in the third quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock valued at $130,000 after acquiring an additional 649 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after purchasing an additional 26,067 shares in the last quarter. Advisor Resource Council acquired a new stake in Novo Nordisk A/S during the fourth quarter worth approximately $997,000. Procyon Advisors LLC raised its holdings in Novo Nordisk A/S by 47.7% during the fourth quarter. Procyon Advisors LLC now owns 55,026 shares of the company’s stock worth $5,692,000 after purchasing an additional 17,783 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. raised its holdings in Novo Nordisk A/S by 37.0% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 60,356 shares of the company’s stock worth $6,244,000 after purchasing an additional 16,293 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Argus raised their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday. Finally, BMO Capital Markets restated an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Stock Performance

NYSE:NVO traded down $2.65 during midday trading on Wednesday, reaching $140.33. The stock had a trading volume of 1,557,165 shares, compared to its average volume of 4,434,670. The firm has a fifty day simple moving average of $135.69 and a two-hundred day simple moving average of $124.37. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month 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 stock has a market cap of $629.74 billion, a P/E ratio of 48.68, a P/E/G ratio of 1.42 and a beta of 0.41.

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