Royal Bank of Canada Has $469.73 Million Position in Novo Nordisk A/S (NYSE:NVO)

Royal Bank of Canada lowered its holdings in Novo Nordisk A/S (NYSE:NVO) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,460,733 shares of the company’s stock after selling 543,387 shares during the quarter. Royal Bank of Canada owned about 0.12% of Novo Nordisk A/S worth $469,733,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in Novo Nordisk A/S by 58.5% in the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock worth $5,410,000 after purchasing an additional 23,223 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its stake in shares of Novo Nordisk A/S by 358.8% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock valued at $3,346,000 after acquiring an additional 30,420 shares during the period. Clear Creek Financial Management LLC acquired a new position in shares of Novo Nordisk A/S during the fourth quarter valued at $450,000. DSM Capital Partners LLC lifted its stake in shares of Novo Nordisk A/S by 16.7% during the fourth quarter. DSM Capital Partners LLC now owns 2,007,412 shares of the company’s stock valued at $172,678,000 after acquiring an additional 286,912 shares during the period. Finally, Patrick M Sweeney & Associates Inc. lifted its stake in shares of Novo Nordisk A/S by 81.2% during the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 11,155 shares of the company’s stock valued at $960,000 after acquiring an additional 5,000 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NVO. Morgan Stanley began coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Dbs Bank lowered Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. Finally, StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.00.

Novo Nordisk A/S Trading Down 2.7%

NYSE NVO opened at $64.35 on Friday. The stock has a 50-day simple moving average of $67.31 and a 200 day simple moving average of $84.58. The company has a market capitalization of $288.75 billion, a PE ratio of 19.56, a P/E/G ratio of 0.90 and a beta of 0.65. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a 12 month low of $57.00 and a 12 month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

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.