Folketrygdfondet Raises Holdings in Novo Nordisk A/S (NYSE:NVO)

Folketrygdfondet lifted its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,521,912 shares of the company's stock after buying an additional 617,974 shares during the period. Novo Nordisk A/S makes up 14.7% of Folketrygdfondet's portfolio, making the stock its 2nd biggest position. Folketrygdfondet owned 0.21% of Novo Nordisk A/S worth $661,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL boosted its holdings in Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Copeland Capital Management LLC boosted its holdings in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after purchasing an additional 255 shares during the last quarter. North Capital Inc. purchased a new position in Novo Nordisk A/S in the first quarter valued at about $27,000. Park Square Financial Group LLC purchased a new position in Novo Nordisk A/S in the fourth quarter valued at about $29,000. Finally, Transce3nd LLC purchased a new position in Novo Nordisk A/S in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Down 2.5%

Shares of NYSE:NVO traded down $1.70 on Thursday, reaching $65.34. The company had a trading volume of 9,023,084 shares, compared to its average volume of 7,368,125. Novo Nordisk A/S has a twelve month low of $57.00 and a twelve month high of $139.74. The stock has a 50-day moving average price of $70.36 and a 200 day moving average price of $74.67. The stock has a market capitalization of $291.73 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.29 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.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $11.87 billion during the quarter. On average, equities analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Analyst Upgrades and Downgrades

NVO has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed a "market perform" rating and set a $64.00 target price (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. BNP Paribas began coverage on Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating on the stock. Dbs Bank cut Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Wall Street Zen upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of "Hold" and a consensus target price of $112.00.

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.