Summit Financial Group Inc. Makes New Investment in Novo Nordisk A/S (NYSE:NVO)

Summit Financial Group Inc. purchased a new position in Novo Nordisk A/S (NYSE:NVOFree Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,750 shares of the company’s stock, valued at approximately $225,000.

A number of other large investors have also recently made changes to their positions in the stock. NBC Securities Inc. boosted its holdings in shares of Novo Nordisk A/S by 12.7% in the first quarter. NBC Securities Inc. now owns 8,475 shares of the company’s stock worth $1,188,000 after acquiring an additional 955 shares during the period. CWM LLC boosted its stake in Novo Nordisk A/S by 0.5% during the first quarter. CWM LLC now owns 106,327 shares of the company’s stock valued at $13,652,000 after buying an additional 493 shares during the period. Campbell Capital Management Inc. bought a new stake in Novo Nordisk A/S during the first quarter valued at $213,000. Cravens & Co Advisors LLC boosted its stake in Novo Nordisk A/S by 1.0% during the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock valued at $1,059,000 after buying an additional 85 shares during the period. Finally, Confluence Investment Management LLC bought a new stake in Novo Nordisk A/S during the first quarter valued at $1,392,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Trading Up 0.3 %

Shares of NVO traded up $0.43 during trading hours on Wednesday, hitting $140.80. The company had a trading volume of 2,640,226 shares, compared to its average volume of 3,369,956. The firm has a market cap of $631.84 billion, a P/E ratio of 48.55, a P/E/G ratio of 1.39 and a beta of 0.41. The stock’s 50 day moving average price is $131.97 and its 200 day moving average price is $121.17. 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 52-week low of $75.56 and a 52-week 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 (EPS) 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 company had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, research analysts predict that Novo Nordisk A/S will post 3.41 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVO. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday. The Goldman Sachs Group initiated 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 research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price target for the company. Finally, Argus lifted their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Get Our Latest Analysis on NVO

Novo Nordisk A/S Company 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.

Further Reading

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

Receive News & Ratings for Novo Nordisk A/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novo Nordisk A/S and related companies with MarketBeat.com's FREE daily email newsletter.