Mattern Capital Management LLC Boosts Stake in Novo Nordisk A/S $NVO

Mattern Capital Management LLC lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 55.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 46,324 shares of the company’s stock after purchasing an additional 16,524 shares during the quarter. Mattern Capital Management LLC’s holdings in Novo Nordisk A/S were worth $1,702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in NVO. Quotient Wealth Partners LLC increased its position in shares of Novo Nordisk A/S by 2.0% in the 4th quarter. Quotient Wealth Partners LLC now owns 9,091 shares of the company’s stock valued at $463,000 after acquiring an additional 177 shares during the period. Certuity LLC lifted its position in Novo Nordisk A/S by 3.6% during the 4th quarter. Certuity LLC now owns 5,052 shares of the company’s stock worth $257,000 after acquiring an additional 177 shares during the period. Oakworth Capital Inc. grew its stake in Novo Nordisk A/S by 41.6% during the 4th quarter. Oakworth Capital Inc. now owns 619 shares of the company’s stock valued at $31,000 after purchasing an additional 182 shares during the last quarter. True North Advisors LLC grew its stake in Novo Nordisk A/S by 3.9% during the 4th quarter. True North Advisors LLC now owns 5,305 shares of the company’s stock valued at $270,000 after purchasing an additional 199 shares during the last quarter. Finally, Asio Capital LLC increased its holdings in shares of Novo Nordisk A/S by 3.9% in the fourth quarter. Asio Capital LLC now owns 5,386 shares of the company’s stock valued at $274,000 after purchasing an additional 200 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $49.28 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $71.79. The stock’s 50-day moving average price is $45.71 and its 200-day moving average price is $45.84. The stock has a market capitalization of $220.04 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 4.51 and a beta of 0.77.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share for the quarter. The company had revenue of $10.85 billion during the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.38 EPS for the current fiscal year.

Analyst Ratings Changes

NVO has been the subject of several research analyst reports. Citigroup restated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Tuesday, May 12th. Nordea Equity Research upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Friday, June 19th. Weiss Ratings lowered shares of Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 22nd. Wolfe Research initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, March 26th. They set a “peer perform” rating for the company. Finally, HSBC reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, July 6th. Five investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $65.56.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.