Employees Retirement System of Texas Acquires 6,560 Shares of Novo Nordisk A/S (NYSE:NVO)

Employees Retirement System of Texas boosted its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,964 shares of the company's stock after acquiring an additional 6,560 shares during the period. Employees Retirement System of Texas' holdings in Novo Nordisk A/S were worth $6,276,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of Novo Nordisk A/S by 58.5% during the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company's stock worth $5,410,000 after acquiring an additional 23,223 shares during the period. Bryn Mawr Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 358.8% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company's stock worth $3,346,000 after buying an additional 30,420 shares during the period. Clear Creek Financial Management LLC bought a new position in shares of Novo Nordisk A/S during the fourth quarter worth about $450,000. DSM Capital Partners LLC lifted its stake in Novo Nordisk A/S by 16.7% in the 4th quarter. DSM Capital Partners LLC now owns 2,007,412 shares of the company's stock valued at $172,678,000 after acquiring an additional 286,912 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. raised its holdings in shares of Novo Nordisk A/S by 81.2% in the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 11,155 shares of the company's stock valued at $960,000 after purchasing an additional 5,000 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BNP Paribas started coverage on Novo Nordisk A/S in a research report on Tuesday, April 15th. They issued an "underperform" rating on the stock. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an "equal weight" rating for the company. Wall Street Zen raised shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, Guggenheim downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $135.00.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO traded up $3.04 during midday trading on Tuesday, hitting $70.39. The stock had a trading volume of 9,168,584 shares, compared to its average volume of 6,711,485. The company's 50-day moving average price is $66.07 and its 200-day moving average price is $82.47. The company has a market capitalization of $315.88 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 0.90 and a beta of 0.65. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, equities research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal 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.