KCM Investment Advisors LLC Invests $220,000 in Novo Nordisk A/S (NYSE:NVO)

KCM Investment Advisors LLC bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,716 shares of the company’s stock, valued at approximately $220,000.

Other institutional investors have also recently added to or reduced their stakes in the company. First PREMIER Bank acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $25,000. CNB Bank purchased a new stake in Novo Nordisk A/S in the fourth quarter valued at $26,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S in the first quarter valued at $26,000. Frank Rimerman Advisors LLC purchased a new position in shares of Novo Nordisk A/S during the fourth quarter worth about $30,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO traded up $0.36 during midday trading on Monday, reaching $142.44. The stock had a trading volume of 539,783 shares, compared to its average volume of 4,407,169. 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 $639.20 billion, a P/E ratio of 49.12, a P/E/G ratio of 1.41 and a beta of 0.41. The firm has a fifty day simple moving average of $138.06 and a two-hundred day simple moving average of $126.57. Novo Nordisk A/S has a 12-month low of $77.96 and a 12-month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The business had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, equities analysts expect that Novo Nordisk A/S will post 3.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, July 1st. 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. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. Finally, 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 research report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company 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.