Harel Insurance Investments & Financial Services Ltd. Takes $39.50 Million Position in Novo Nordisk A/S (NYSE:NVO)

Harel Insurance Investments & Financial Services Ltd. bought a new position in Novo Nordisk A/S (NYSE:NVO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 562,187 shares of the company’s stock, valued at approximately $39,499,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVO. Bank of America Corp DE lifted its stake in Novo Nordisk A/S by 8.1% in the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company’s stock worth $1,332,655,000 after purchasing an additional 1,165,955 shares in the last quarter. GQG Partners LLC increased its holdings in shares of Novo Nordisk A/S by 74.7% in the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company’s stock worth $1,117,790,000 after purchasing an additional 5,556,460 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of Novo Nordisk A/S by 34.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock worth $995,397,000 after purchasing an additional 2,947,771 shares during the last quarter. Folketrygdfondet lifted its position in shares of Novo Nordisk A/S by 0.5% in the fourth quarter. Folketrygdfondet now owns 8,903,938 shares of the company’s stock worth $765,917,000 after buying an additional 40,313 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Novo Nordisk A/S by 1.5% during the fourth quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company’s stock valued at $715,084,000 after buying an additional 123,681 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 1.1%

Shares of NVO opened at $69.05 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70. The business has a fifty day moving average of $69.82 and a 200 day moving average of $76.19. The company has a market cap of $308.31 billion, a PE ratio of 20.43, a P/E/G ratio of 1.36 and a beta of 0.64. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $143.69.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NVO shares. Hsbc Global Res raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Guggenheim cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Wall Street Zen raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Finally, BMO Capital Markets restated a “market perform” rating and set a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S has an average rating of “Hold” and a consensus target price of $112.00.

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.