Banque Cantonale Vaudoise Takes Position in Novo Nordisk A/S (NYSE:NVO)

Key Points

• Banque Cantonale Vaudoise has acquired 14,575 shares of Novo Nordisk A/S, valuing approximately $1,013,000, marking a significant new position in the company's stock during the first quarter.
• Various institutional investors, such as Strategic Investment Solutions Inc. IL and Copeland Capital Management LLC, have also significantly increased their holdings in Novo Nordisk A/S, indicating strong interest in the stock.
• Recent analyst ratings show mixed opinions on Novo Nordisk A/S, with Guggenheim downgrading it to a "hold" and HSBC setting a target price of $57, reflecting volatility in investor sentiment.

Banque Cantonale Vaudoise purchased a new position in Novo Nordisk A/S (NYSE:NVO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,575 shares of the company's stock, valued at approximately $1,013,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings 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 acquiring an additional 1,165,955 shares during the period. Folketrygdfondet boosted its holdings in Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock worth $661,202,000 after acquiring an additional 617,974 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Novo Nordisk A/S by 1.5% during the 4th 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. Nuveen Asset Management LLC boosted its stake in shares of Novo Nordisk A/S by 73.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock valued at $537,189,000 after buying an additional 2,639,693 shares during the last quarter. Finally, Sustainable Growth Advisers LP boosted its stake in shares of Novo Nordisk A/S by 3.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company's stock valued at $384,923,000 after buying an additional 202,443 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

NVO traded up $1.16 during trading hours on Friday, hitting $48.23. 34,710,384 shares of the stock were exchanged, compared to its average volume of 17,615,270. Novo Nordisk A/S has a 12 month low of $46.90 and a 12 month high of $139.74. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56. The stock has a 50-day simple moving average of $69.64 and a 200-day simple moving average of $72.95. The stock has a market cap of $215.35 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.41 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. The firm had revenue of $11.87 billion for the quarter. Analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NVO. HSBC cut Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price for the company. in a research note on Thursday. Dbs Bank cut Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. BMO Capital Markets reiterated 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 note on Thursday, April 17th. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday. Finally, Wall Street Zen upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of "Hold" and a consensus target price of $93.67.

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.