Formidable Asset Management LLC Purchases 7,857 Shares of Novo Nordisk A/S (NYSE:NVO)

Formidable Asset Management LLC lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 116.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,576 shares of the company's stock after acquiring an additional 7,857 shares during the period. Formidable Asset Management LLC's holdings in Novo Nordisk A/S were worth $1,254,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GQG Partners LLC raised its holdings in shares of Novo Nordisk A/S by 74.7% during the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock valued at $1,117,790,000 after purchasing an additional 5,556,460 shares during the period. Raymond James Financial Inc. bought a new stake in Novo Nordisk A/S in the 4th quarter valued at about $404,910,000. Loomis Sayles & Co. L P raised its stake in Novo Nordisk A/S by 34.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock worth $995,397,000 after buying an additional 2,947,771 shares during the period. Nuveen Asset Management LLC boosted its holdings in Novo Nordisk A/S by 73.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock worth $537,189,000 after acquiring an additional 2,639,693 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at approximately $158,657,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Down 2.4%

Novo Nordisk A/S stock traded down $1.70 during midday trading on Wednesday, hitting $68.74. 4,616,198 shares of the stock were exchanged, compared to its average volume of 6,703,595. The stock has a market capitalization of $308.46 billion, a price-to-earnings ratio of 20.87, 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. The business's 50-day moving average price is $65.91 and its 200-day moving average price is $82.38. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $148.15.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results 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 34.81% and a return on equity of 84.68%. The company had revenue of $11.87 billion during the quarter. On average, research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Analysts Set New Price Targets

NVO has been the topic of a number of research reports. Guggenheim lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S 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, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of "Moderate Buy" and a consensus target price of $135.00.

Novo Nordisk A/S Company 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.