Patten & Patten Inc. TN Purchases Shares of 2,010 Novo Nordisk A/S (NYSE:NVO)

Patten & Patten Inc. TN purchased a new stake in Novo Nordisk A/S (NYSE:NVO) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,010 shares of the company’s stock, valued at approximately $258,000.

Several other large investors have also recently added to or reduced their stakes in NVO. First PREMIER Bank acquired a new position in Novo Nordisk A/S in the 1st quarter valued at approximately $25,000. CNB Bank acquired a new position in shares of Novo Nordisk A/S in the 4th quarter worth approximately $26,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Novo Nordisk A/S in the 1st quarter worth approximately $26,000. Frank Rimerman Advisors LLC acquired a new position in shares of Novo Nordisk A/S in the 4th quarter worth approximately $30,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of Novo Nordisk A/S in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, July 1st. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. Argus increased their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Price Performance

NVO stock traded up $0.32 during midday trading on Tuesday, reaching $133.50. 386,537 shares of the company’s stock traded hands, compared to its average volume of 4,424,915. The company has a market cap of $599.09 billion, a price-to-earnings ratio of 45.92, a PEG ratio of 1.32 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. The company has a 50-day simple moving average of $138.95 and a two-hundred day simple moving average of $127.90. Novo Nordisk A/S has a 1-year low of $77.96 and a 1-year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. On average, analysts anticipate that Novo Nordisk A/S will post 3.38 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.