Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Vident Advisory LLC

Vident Advisory LLC increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,522 shares of the company’s stock after purchasing an additional 1,258 shares during the period. Vident Advisory LLC’s holdings in Novo Nordisk A/S were worth $4,048,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVO. Folketrygdfondet raised its holdings in shares of Novo Nordisk A/S by 1.4% in the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after buying an additional 124,770 shares during the last quarter. Capital International Investors raised its holdings in shares of Novo Nordisk A/S by 22.3% in the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after buying an additional 1,297,536 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Novo Nordisk A/S by 12.1% in the first quarter. Raymond James & Associates now owns 3,143,731 shares of the company’s stock valued at $403,655,000 after buying an additional 340,549 shares during the last quarter. Finally, Natixis Advisors L.P. raised its holdings in shares of Novo Nordisk A/S by 1.8% in the fourth quarter. Natixis Advisors L.P. now owns 3,052,406 shares of the company’s stock valued at $315,770,000 after buying an additional 55,333 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

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

Novo Nordisk A/S Price Performance

Shares of NVO traded down $0.37 during mid-day trading on Friday, reaching $127.49. 1,708,768 shares of the company’s stock were exchanged, compared to its average volume of 4,414,400. 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 $138.79 and a two-hundred day simple moving average of $128.11. Novo Nordisk A/S has a 52-week low of $77.96 and a 52-week high of $148.15. The company has a market cap of $572.12 billion, a price-to-earnings ratio of 43.70, a PEG ratio of 1.32 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (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 for the quarter, compared to analyst estimates of $9.23 billion. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.38 EPS for the current fiscal 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.