Kestra Private Wealth Services LLC lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO – Free Report) by 38.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 42,003 shares of the company’s stock after buying an additional 11,661 shares during the period. Kestra Private Wealth Services LLC’s holdings in Novo Nordisk A/S were worth $1,544,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in Novo Nordisk A/S by 4,190.8% in the third quarter. Franklin Resources Inc. now owns 13,984,789 shares of the company’s stock worth $776,016,000 after buying an additional 13,658,867 shares during the period. Capital International Investors grew its holdings in shares of Novo Nordisk A/S by 52.4% during the 3rd quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock worth $982,969,000 after acquiring an additional 6,092,192 shares during the period. Boston Partners bought a new position in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $310,199,000. Price T Rowe Associates Inc. MD raised its position in shares of Novo Nordisk A/S by 99.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock worth $492,940,000 after acquiring an additional 4,836,285 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in shares of Novo Nordisk A/S by 851.6% in the 4th quarter. Voloridge Investment Management LLC now owns 4,807,279 shares of the company’s stock valued at $244,594,000 after purchasing an additional 4,302,126 shares during the period. 11.54% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on NVO shares. Wolfe Research started coverage on Novo Nordisk A/S in a research report on Thursday, March 26th. They set a “peer perform” rating on the stock. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Friday, June 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $41.00 target price (down from $63.00) on shares of Novo Nordisk A/S in a research report on Monday, March 2nd. Finally, Morgan Stanley raised shares of Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $40.00 price target for the company in a research report on Tuesday, March 3rd. Five investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Hold” and an average target price of $65.56.
Novo Nordisk A/S Stock Performance
Novo Nordisk A/S stock opened at $48.36 on Tuesday. The stock’s 50 day moving average is $43.94 and its 200 day moving average is $45.83. The company has a market capitalization of $215.93 billion, a P/E ratio of 11.35, a PEG ratio of 4.33 and a beta of 0.78. Novo Nordisk A/S has a twelve month low of $35.12 and a twelve month high of $71.79. 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 (NYSE:NVO – Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%.The business had revenue of $10.85 billion for the quarter. On average, equities research analysts predict that Novo Nordisk A/S will post 3.42 earnings per share for the current fiscal year.
About Novo Nordisk A/S
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.
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