Moody National Bank Trust Division Takes $2.64 Million Position in Novo Nordisk A/S (NVO)

Moody National Bank Trust Division purchased a new position in Novo Nordisk A/S (NYSE:NVO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 56,000 shares of the company’s stock, valued at approximately $2,640,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bradley Foster & Sargent Inc. CT increased its position in Novo Nordisk A/S by 571.3% during the third quarter. Bradley Foster & Sargent Inc. CT now owns 39,246 shares of the company’s stock worth $1,850,000 after buying an additional 33,400 shares during the last quarter. Ropes Wealth Advisors LLC increased its position in Novo Nordisk A/S by 434.5% during the third quarter. Ropes Wealth Advisors LLC now owns 9,841 shares of the company’s stock worth $464,000 after buying an additional 8,000 shares during the last quarter. Parsec Financial Management Inc. increased its position in Novo Nordisk A/S by 0.7% during the third quarter. Parsec Financial Management Inc. now owns 378,652 shares of the company’s stock worth $17,850,000 after buying an additional 2,534 shares during the last quarter. TCW Group Inc. increased its position in Novo Nordisk A/S by 37.6% during the third quarter. TCW Group Inc. now owns 32,050 shares of the company’s stock worth $1,511,000 after buying an additional 8,750 shares during the last quarter. Finally, Legacy Financial Advisors Inc. increased its position in Novo Nordisk A/S by 527.8% during the third quarter. Legacy Financial Advisors Inc. now owns 3,886 shares of the company’s stock worth $183,000 after buying an additional 3,267 shares during the last quarter. 6.70% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S stock opened at $43.72 on Friday. Novo Nordisk A/S has a one year low of $41.23 and a one year high of $58.37. The firm has a market cap of $106.83 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 2.29 and a beta of 0.76.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.04. Novo Nordisk A/S had a net margin of 34.94% and a return on equity of 81.05%. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Equities analysts anticipate that Novo Nordisk A/S will post 2.44 EPS for the current fiscal year.

Several research firms have commented on NVO. Zacks Investment Research raised shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. ValuEngine downgraded shares of Novo Nordisk A/S from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Cfra reissued a “hold” rating on shares of Novo Nordisk A/S in a research report on Friday. Guggenheim began coverage on shares of Novo Nordisk A/S in a research report on Monday, October 8th. They set a “buy” rating on the stock. Finally, Pareto Securities downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $64.00.

About Novo Nordisk A/S

Novo Nordisk A/S, a healthcare company, engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides insulins, GLP-1 and related delivery systems, and oral anti-diabetic drugs and obesity.

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

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