Mirae Asset Global Investments Co. Ltd. Grows Position in Novo Nordisk A/S (NYSE:NVO)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 29.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 244,301 shares of the company’s stock after purchasing an additional 56,060 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Novo Nordisk A/S were worth $31,368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Westside Investment Management Inc. raised its stake in Novo Nordisk A/S by 83.3% during the 3rd quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock worth $130,000 after acquiring an additional 649 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Novo Nordisk A/S by 38.1% in 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 bought a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at $997,000. Procyon Advisors LLC boosted its holdings in Novo Nordisk A/S by 47.7% in the 4th quarter. Procyon Advisors LLC now owns 55,026 shares of the company’s stock worth $5,692,000 after buying an additional 17,783 shares during the period. Finally, McKinley Carter Wealth Services Inc. boosted its holdings in Novo Nordisk A/S by 37.0% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 60,356 shares of the company’s stock worth $6,244,000 after buying an additional 16,293 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 2.5 %

NVO stock opened at $142.37 on Friday. The firm has a fifty day moving average price of $136.52 and a 200 day moving average price of $125.05. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $148.15. The firm has a market cap of $638.89 billion, a PE ratio of 49.09, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The business had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NVO. BMO Capital Markets restated an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. Argus increased their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average target price of $145.67.

About Novo Nordisk A/S

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.