QRG Capital Management Inc. cut its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 231,236 shares of the company's stock after selling 20,600 shares during the period. QRG Capital Management Inc.'s holdings in Novo Nordisk A/S were worth $16,057,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Novo Nordisk A/S by 58.5% in the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company's stock valued at $5,410,000 after purchasing an additional 23,223 shares during the period. Bryn Mawr Capital Management LLC boosted its holdings in Novo Nordisk A/S by 358.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company's stock valued at $3,346,000 after purchasing an additional 30,420 shares during the period. DSM Capital Partners LLC boosted its holdings in Novo Nordisk A/S by 16.7% in the fourth quarter. DSM Capital Partners LLC now owns 2,007,412 shares of the company's stock valued at $172,678,000 after purchasing an additional 286,912 shares during the period. North Star Investment Management Corp. lifted its holdings in Novo Nordisk A/S by 18.2% during the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock worth $1,440,000 after buying an additional 3,200 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Novo Nordisk A/S by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 73,547 shares of the company's stock worth $6,254,000 after buying an additional 3,989 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Stifel Nicolaus downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. BMO Capital Markets reaffirmed a "market perform" rating and set a $64.00 price target (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Wall Street Zen raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday. Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Finally, BNP Paribas assumed coverage on Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $112.00.
Check Out Our Latest Report on Novo Nordisk A/S
Novo Nordisk A/S Stock Performance
NYSE NVO opened at $77.02 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The business's 50 day moving average is $67.61 and its two-hundred day moving average is $79.24. Novo Nordisk A/S has a 12-month low of $57.00 and a 12-month high of $148.15. The stock has a market capitalization of $345.62 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 0.90 and a beta of 0.66.
Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The company had revenue of $11.87 billion for the quarter. Research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.
Novo Nordisk A/S Company Profile
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Free Report)
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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