Sunpointe LLC Invests $661,000 in Novo Nordisk A/S (NYSE:NVO)

Sunpointe LLC purchased a new position in shares of Novo Nordisk A/S (NYSE:NVOFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,385 shares of the company’s stock, valued at approximately $661,000. Novo Nordisk A/S comprises approximately 0.8% of Sunpointe LLC’s investment portfolio, making the stock its 29th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC increased its position in shares of Novo Nordisk A/S by 0.6% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock valued at $1,595,000 after purchasing an additional 90 shares during the last quarter. Clarius Group LLC raised its position in Novo Nordisk A/S by 0.5% in the fourth quarter. Clarius Group LLC now owns 18,505 shares of the company’s stock worth $1,914,000 after acquiring an additional 93 shares during the period. Tradewinds Capital Management LLC boosted its stake in Novo Nordisk A/S by 2.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 4,955 shares of the company’s stock valued at $513,000 after acquiring an additional 95 shares during the last quarter. Montag A & Associates Inc. grew its position in shares of Novo Nordisk A/S by 1.0% during the 4th quarter. Montag A & Associates Inc. now owns 9,492 shares of the company’s stock valued at $982,000 after acquiring an additional 96 shares during the period. Finally, 9258 Wealth Management LLC increased its stake in shares of Novo Nordisk A/S by 4.0% during the 4th quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock worth $260,000 after purchasing an additional 97 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on NVO shares. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, April 18th. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price objective for the company. Finally, Argus upped 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. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.67.

Read Our Latest Research Report on NVO

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO traded up $0.07 during midday trading on Friday, reaching $142.56. 2,829,993 shares of the company traded hands, compared to its average volume of 4,525,609. The firm’s fifty day moving average price is $131.39 and its two-hundred day moving average price is $120.35. The firm has a market capitalization of $639.74 billion, a price-to-earnings ratio of 49.16, a price-to-earnings-growth ratio of 1.48 and a beta of 0.41. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $144.50.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last announced its quarterly 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 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. On average, equities analysts expect that Novo Nordisk A/S will post 3.42 earnings per share for the current year.

Novo Nordisk A/S Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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