Capital Research Global Investors Raises Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Capital Research Global Investors raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 38.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,233 shares of the company’s stock after purchasing an additional 13,181 shares during the quarter. Capital Research Global Investors’ holdings in Novo Nordisk A/S were worth $6,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of NVO. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $25,000. CNB Bank bought a new stake in Novo Nordisk A/S during the fourth quarter worth about $26,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $26,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $26,000. Finally, Frank Rimerman Advisors LLC bought a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $126.73 on Friday. The company’s fifty day simple moving average is $138.69 and its two-hundred day simple moving average is $128.41. Novo Nordisk A/S has a 12-month low of $77.96 and a 12-month high of $148.15. The firm has a market cap of $568.70 billion, a PE ratio of 43.70, a price-to-earnings-growth ratio of 1.27 and a beta of 0.41. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. The company had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.38 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.