Silvercrest Asset Management Group LLC Acquires 11,020 Shares of Novo Nordisk A/S (NYSE:NVO)

Silvercrest Asset Management Group LLC lifted its holdings in Novo Nordisk A/S (NYSE:NVO) by 9.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 134,060 shares of the company’s stock after buying an additional 11,020 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Novo Nordisk A/S were worth $17,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVO. Pacer Advisors Inc. increased its holdings in shares of Novo Nordisk A/S by 98.0% in the fourth quarter. Pacer Advisors Inc. now owns 29,706 shares of the company’s stock worth $3,073,000 after purchasing an additional 14,702 shares during the period. Global Retirement Partners LLC boosted its position in Novo Nordisk A/S by 20.3% during the fourth quarter. Global Retirement Partners LLC now owns 12,964 shares of the company’s stock valued at $1,379,000 after buying an additional 2,190 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in Novo Nordisk A/S by 63.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 9,014 shares of the company’s stock valued at $932,000 after buying an additional 3,492 shares during the period. Pinnacle Associates Ltd. boosted its position in Novo Nordisk A/S by 1.4% during the fourth quarter. Pinnacle Associates Ltd. now owns 33,030 shares of the company’s stock valued at $3,417,000 after buying an additional 448 shares during the period. Finally, PFG Advisors purchased a new stake in Novo Nordisk A/S during the fourth quarter valued at about $410,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NYSE NVO traded up $0.74 on Tuesday, reaching $128.79. The company had a trading volume of 2,953,418 shares, compared to its average volume of 4,405,358. The firm’s 50 day moving average price is $138.59 and its 200 day moving average price is $128.69. Novo Nordisk A/S has a 12 month low of $78.19 and a 12 month high of $148.15. 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 capitalization of $577.95 billion, a PE ratio of 44.94, a price-to-earnings-growth ratio of 1.27 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. As a group, equities analysts predict that Novo Nordisk A/S will post 3.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, July 1st. BMO Capital Markets reiterated an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. Finally, Argus increased their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Two 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 company’s stock. According to MarketBeat.com, the stock 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.