First Trust Direct Indexing L.P. Boosts Stock Position in Novo Nordisk A/S (NYSE:NVO)

First Trust Direct Indexing L.P. grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 12.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,787 shares of the company’s stock after buying an additional 7,647 shares during the quarter. Novo Nordisk A/S accounts for 0.6% of First Trust Direct Indexing L.P.’s investment portfolio, making the stock its 22nd largest position. First Trust Direct Indexing L.P.’s holdings in Novo Nordisk A/S were worth $7,116,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NVO. Pacific Center for Financial Services increased its position in shares of Novo Nordisk A/S by 100.0% in the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. Bell Investment Advisors Inc increased its position in shares of Novo Nordisk A/S by 79.9% during the third quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. CNB Bank purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth approximately $26,000. Citizens National Bank Trust Department increased its position in shares of Novo Nordisk A/S by 100.0% during the third quarter. Citizens National Bank Trust Department now owns 300 shares of the company’s stock worth $27,000 after purchasing an additional 150 shares in the last quarter. Finally, Tyler Stone Wealth Management increased its position in shares of Novo Nordisk A/S by 100.0% during the third quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock worth $27,000 after purchasing an additional 146 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on NVO. BMO Capital Markets began coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. UBS Group began coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating for the company. Finally, Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price target for the company. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.60.

Novo Nordisk A/S Trading Up 0.7 %

NYSE NVO traded up $0.93 on Wednesday, reaching $129.24. 5,192,914 shares of the company were exchanged, compared to its average volume of 4,803,875. The business’s fifty day moving average price is $127.05 and its 200 day moving average price is $112.58. The stock has a market capitalization of $579.97 billion, a P/E ratio of 47.77, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $138.28.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. The company had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. Analysts forecast that Novo Nordisk A/S will post 3.32 earnings per share 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.