Geneos Wealth Management Inc. Has $2.11 Million Position in Novo Nordisk A/S (NYSE:NVO)

Geneos Wealth Management Inc. increased its stake in Novo Nordisk A/S (NYSE:NVO) by 11.1% in the 1st quarter, Holdings Channel reports. The firm owned 16,417 shares of the company’s stock after purchasing an additional 1,641 shares during the period. Geneos Wealth Management Inc.’s holdings in Novo Nordisk A/S were worth $2,108,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First PREMIER Bank acquired a new stake in Novo Nordisk A/S in the 1st quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S in the 1st quarter worth approximately $26,000. CNB Bank acquired a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new stake in Novo Nordisk A/S in the 1st quarter worth approximately $34,000. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Novo Nordisk A/S during the fourth quarter worth approximately $28,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVO has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, July 1st. Argus upped their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. BMO Capital Markets reiterated an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Finally, The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.67.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $2.95 during trading hours on Thursday, reaching $139.79. The stock had a trading volume of 3,833,617 shares, compared to its average volume of 4,448,023. The business’s fifty day moving average is $137.36 and its two-hundred day moving average is $125.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The company has a market cap of $627.31 billion, a price-to-earnings ratio of 48.76, a PEG ratio of 1.41 and a beta of 0.41. Novo Nordisk A/S has a twelve month low of $75.96 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results 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. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The firm had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. As a group, research analysts expect that Novo Nordisk A/S will post 3.43 EPS for the current year.

Novo Nordisk A/S Company 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.