OVERSEA CHINESE BANKING Corp Ltd Boosts Position in Novo Nordisk A/S (NYSE:NVO)

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 2,420.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 513,556 shares of the company's stock after acquiring an additional 493,180 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Novo Nordisk A/S were worth $35,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Bank of America Corp DE raised its holdings 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 acquiring an additional 1,165,955 shares during the period. GQG Partners LLC raised its holdings in shares of Novo Nordisk A/S by 74.7% during the 4th quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock worth $1,117,790,000 after acquiring an additional 5,556,460 shares during the period. Loomis Sayles & Co. L P raised its holdings in shares of 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 acquiring an additional 2,947,771 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Novo Nordisk A/S by 1.5% during the 4th quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company's stock worth $715,084,000 after acquiring an additional 123,681 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings 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 acquiring an additional 2,639,693 shares during the period. Hedge funds and other institutional investors own 11.54% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. BNP Paribas assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating on the stock. Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Guggenheim lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a 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. Finally, Dbs Bank lowered shares of Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $112.00.

Novo Nordisk A/S Stock Down 2.9%

Shares of NYSE:NVO opened at $68.93 on Monday. 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 firm has a market capitalization of $307.77 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.33 and a beta of 0.64. The firm's 50-day moving average is $70.35 and its two-hundred day moving average is $74.91. Novo Nordisk A/S has a 1 year low of $57.00 and a 1 year high of $143.49.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.92. The company had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. Analysts predict 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.

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