Mirae Asset Global Investments Co. Ltd. Grows Stake in Novo Nordisk A/S (NYSE:NVO)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 118.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,594,544 shares of the company's stock after acquiring an additional 864,579 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Novo Nordisk A/S were worth $110,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL increased its position 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 worth $27,000 after buying an additional 300 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $29,000. Transce3nd LLC purchased a new position in Novo Nordisk A/S during the fourth quarter valued at approximately $33,000. Spirit of America Management Corp NY bought a new position in shares of Novo Nordisk A/S in the first quarter worth approximately $35,000. Finally, CX Institutional purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth $36,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on NVO shares. Wall Street Zen raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Finally, BNP Paribas assumed coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $112.00.

Novo Nordisk A/S Price Performance

Shares of NVO stock traded up $0.80 during trading hours on Friday, hitting $68.50. The stock had a trading volume of 5,624,379 shares, compared to its average volume of 7,239,527. The stock has a market capitalization of $305.85 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.22 and a beta of 0.66. Novo Nordisk A/S has a one year low of $57.00 and a one year high of $145.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56. The stock's 50-day moving average price is $69.11 and its two-hundred day moving average price is $77.04.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. Equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS 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.