Arrowstreet Capital Limited Partnership Takes Position in Novo Nordisk A/S $NVO

Key Points

• Arrowstreet Capital disclosed a new first-quarter stake in Novo Nordisk, buying 7.83 million shares valued at about $287.7 million. The position represented 0.18% of the company.
• Other large institutional investors also held sizable positions, and overall 11.54% of Novo Nordisk’s stock is owned by institutions. Notable holders included Loomis Sayles, Franklin Resources, Morgan Stanley, Price T Rowe, and State Street.
• Analyst sentiment is mixed-to-cautious: Novo Nordisk has an average Hold rating and a consensus price target of $65.56. Recent moves included downgrades from Zacks Research and Wall Street Zen, while shares last traded at $48.76.

Arrowstreet Capital Limited Partnership bought a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,827,491 shares of the company's stock, valued at approximately $287,660,000. Arrowstreet Capital Limited Partnership owned 0.18% of Novo Nordisk A/S at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Loomis Sayles & Co. L P increased its stake in shares of Novo Nordisk A/S by 6.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 17,135,384 shares of the company's stock valued at $871,848,000 after buying an additional 969,916 shares during the period. Franklin Resources Inc. increased its position in shares of Novo Nordisk A/S by 5.1% during the fourth quarter. Franklin Resources Inc. now owns 14,702,508 shares of the company's stock valued at $748,064,000 after buying an additional 717,719 shares during the period. Morgan Stanley raised its stake in Novo Nordisk A/S by 3.5% in the fourth quarter. Morgan Stanley now owns 12,842,089 shares of the company's stock worth $653,406,000 after buying an additional 428,660 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Novo Nordisk A/S by 99.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company's stock worth $492,940,000 after buying an additional 4,836,285 shares in the last quarter. Finally, State Street Corp lifted its holdings in Novo Nordisk A/S by 1.0% in the third quarter. State Street Corp now owns 6,106,836 shares of the company's stock worth $340,125,000 after buying an additional 59,153 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NVO shares. Zacks Research downgraded 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 research report on Monday. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. HSBC reissued a "hold" rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Finally, Citigroup reissued a "neutral" rating on shares of Novo Nordisk A/S in a research report on Monday. Five equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $65.56.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $48.76 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.56 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $217.71 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 4.39 and a beta of 0.77. Novo Nordisk A/S has a 12-month low of $35.12 and a 12-month high of $71.79. The firm has a 50 day moving average of $46.36 and a 200 day moving average of $45.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The firm had revenue of $10.85 billion during the quarter. On average, research analysts anticipate that Novo Nordisk A/S will post 3.39 earnings per share for the current year.

Novo Nordisk A/S 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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