756,509 Shares in Novo Nordisk A/S $NVO Acquired by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio opened a new position in Novo Nordisk during the first quarter, buying 756,509 shares valued at about $27.8 million.
• Novo Nordisk’s stock was up 1.2% to $48.76, leaving it well below its 52-week high of $71.79; the company now has a market cap of about $217.7 billion.
• Analyst sentiment remains cautious, with an average “Hold” rating and a consensus price target of $65.56, despite the company’s strong quarterly results showing $1.03 EPS and $10.85 billion in revenue.

Public Employees Retirement System of Ohio acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 756,509 shares of the company's stock, valued at approximately $27,802,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Godfrey Financial Associates Inc. acquired a new stake in shares of Novo Nordisk A/S during the 4th quarter worth $25,000. Scarborough Advisors LLC acquired a new position in Novo Nordisk A/S in the first quarter valued at about $26,000. WealthCollab LLC raised its stake in Novo Nordisk A/S by 93.5% in the fourth quarter. WealthCollab LLC now owns 538 shares of the company's stock valued at $27,000 after purchasing an additional 260 shares in the last quarter. American National Bank & Trust acquired a new position in Novo Nordisk A/S in the fourth quarter valued at about $28,000. Finally, Maseco LLP bought a new stake in Novo Nordisk A/S during the fourth quarter worth about $29,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Up 1.2%

Shares of NYSE:NVO opened at $48.76 on Friday. The company has a fifty day moving average of $46.36 and a 200-day moving average of $45.74. The company has a market capitalization of $217.71 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 4.39 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79. Novo Nordisk A/S has a 52-week low of $35.12 and a 52-week high of $71.79.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly 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 company had revenue of $10.85 billion during the quarter. On average, equities analysts predict that Novo Nordisk A/S will post 3.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. HSBC reiterated a "hold" rating on shares of Novo Nordisk A/S in a research note on Monday, July 6th. Zacks Research downgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Novo Nordisk A/S in a report on Monday. Citigroup reiterated a "neutral" rating on shares of Novo Nordisk A/S in a research report on Monday. Finally, Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Five investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Novo Nordisk A/S has an average rating of "Hold" and an average target price of $65.56.

Novo Nordisk A/S Company Profile

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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