Elefante Mark B Increases Position in Novo Nordisk A/S (NYSE:NVO)

Elefante Mark B boosted its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 157.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,265 shares of the company's stock after purchasing an additional 5,665 shares during the period. Elefante Mark B's holdings in Novo Nordisk A/S were worth $643,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NVO. North Star Investment Management Corp. boosted its position in Novo Nordisk A/S by 18.2% during the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock valued at $1,440,000 after acquiring an additional 3,200 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Novo Nordisk A/S by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company's stock worth $58,316,000 after acquiring an additional 47,804 shares during the period. Stanley Laman Group Ltd. bought a new position in Novo Nordisk A/S during the first quarter valued at about $390,000. Dover Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the 1st quarter worth approximately $505,000. Finally, Meridian Investment Counsel Inc. lifted its position in shares of Novo Nordisk A/S by 95.4% during the 4th quarter. Meridian Investment Counsel Inc. now owns 45,697 shares of the company's stock valued at $3,931,000 after buying an additional 22,314 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on NVO. Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. BNP Paribas began coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an "underperform" rating on the stock. Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Dbs Bank lowered shares of Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Finally, Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of "Hold" and an average target price of $112.00.

Novo Nordisk A/S Stock Up 1.3%

Shares of NYSE:NVO traded up $0.94 on Friday, hitting $71.67. 7,345,265 shares of the company traded hands, compared to its average volume of 7,144,964. The company has a market cap of $320.00 billion, a PE ratio of 21.20, a PEG ratio of 1.36 and a beta of 0.64. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70. The stock has a 50 day simple moving average of $70.67 and a 200-day simple moving average of $73.80. Novo Nordisk A/S has a 52 week low of $57.00 and a 52 week high of $139.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. The firm had revenue of $11.87 billion during the quarter. As a group, research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S 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.