JARISLOWSKY FRASER Ltd Has $2.56 Million Stock Position in Novo Nordisk A/S $NVO

Key Points

• JARISLOWSKY FRASER Ltd reduced its Novo Nordisk stake by 35.7% in Q3, selling 25,625 shares and ending the quarter with 46,215 shares valued at $2.564 million.
• Novo Nordisk beat quarterly EPS estimates ($1.02 vs. $0.77) while revenue missed slightly ($11.79B vs. $11.98B); the company reported a 32.76% net margin and 73.5% return on equity.
• Several other institutions either boosted or initiated positions (e.g., Fulton Bank +159.9%, Three Bridge +31.3%, Brave Asset opened a new stake), institutional ownership is 11.54%, and analysts have a consensus "Hold" rating with a $53.33 target.

JARISLOWSKY FRASER Ltd decreased its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 35.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,215 shares of the company's stock after selling 25,625 shares during the quarter. JARISLOWSKY FRASER Ltd's holdings in Novo Nordisk A/S were worth $2,564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Fulton Bank N.A. boosted its holdings in shares of Novo Nordisk A/S by 159.9% in the 3rd quarter. Fulton Bank N.A. now owns 8,081 shares of the company's stock valued at $448,000 after purchasing an additional 4,972 shares in the last quarter. Brave Asset Management Inc. bought a new position in shares of Novo Nordisk A/S during the third quarter valued at $216,000. Three Bridge Wealth Advisors LLC lifted its holdings in Novo Nordisk A/S by 31.3% during the 3rd quarter. Three Bridge Wealth Advisors LLC now owns 32,761 shares of the company's stock worth $1,818,000 after buying an additional 7,811 shares during the period. Grey Ledge Advisors LLC boosted its holdings in Novo Nordisk A/S by 9.1% in the third quarter. Grey Ledge Advisors LLC now owns 25,092 shares of the company's stock valued at $1,392,000 after acquiring an additional 2,083 shares during the last quarter. Finally, Brookwood Investment Group LLC bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at $815,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Stock Up 2.9%

Shares of NVO stock opened at $52.38 on Friday. The stock has a market cap of $233.85 billion, a P/E ratio of 15.23 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company has a 50 day simple moving average of $49.08 and a two-hundred day simple moving average of $55.96. Novo Nordisk A/S has a 12 month low of $43.08 and a 12 month high of $93.80.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.77 by $0.25. The firm had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. On average, research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NVO shares. HSBC reiterated a "hold" rating and set a $54.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, December 10th. Morgan Stanley reiterated an "underweight" rating and set a $42.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, December 3rd. Jefferies Financial Group began coverage on Novo Nordisk A/S in a research note on Monday, October 27th. They set an "underperform" rating for the company. Berenberg Bank upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Wednesday, September 17th. Finally, Hsbc Global Res lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $53.33.

About Novo Nordisk A/S

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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