Novo Nordisk A/S (NYSE:NVO) Stock Position Raised by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in Novo Nordisk A/S by 44.7% in Q1, owning 29,480 shares valued at approximately $2.06 million.
• Several institutional investors also boosted their positions in Novo Nordisk during Q4, with Nuveen Asset Management raising their stake by 73.2%, now holding over 6.2 million shares.
• Analysts have recently downgraded Novo Nordisk from a "buy" to a "hold" rating, with the consensus price target set at $93.67.

OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 44.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,480 shares of the company's stock after purchasing an additional 9,104 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Novo Nordisk A/S were worth $2,063,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVO. Nuveen Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 73.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock worth $537,189,000 after purchasing an additional 2,639,693 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth about $158,657,000. Bank of America Corp DE raised its stake in shares of Novo Nordisk A/S by 8.1% during the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock worth $1,332,655,000 after purchasing an additional 1,165,955 shares in the last quarter. Northern Trust Corp raised its stake in shares of Novo Nordisk A/S by 26.8% during the 4th quarter. Northern Trust Corp now owns 4,689,098 shares of the company's stock worth $403,356,000 after purchasing an additional 991,022 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Novo Nordisk A/S by 543.9% during the 4th quarter. Marshall Wace LLP now owns 1,167,498 shares of the company's stock worth $100,428,000 after purchasing an additional 986,195 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $48.23 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70. The business's 50 day moving average is $69.26 and its two-hundred day moving average is $72.66. The company has a market cap of $215.35 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.44 and a beta of 0.63. Novo Nordisk A/S has a 12 month low of $46.90 and a 12 month high of $139.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued 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 for the quarter. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. On average, equities analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NVO shares. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday. HSBC downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a research note on Thursday. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday. Hsbc Global Res downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Novo Nordisk A/S currently has an average rating of "Hold" and a consensus price target of $93.67.

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.

Want to see what other hedge funds are holding NVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novo Nordisk A/S (NYSE:NVO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.