Rock Springs Capital Management LP Takes $3.31 Million Position in Novo Nordisk A/S $NVO

Key Points

• Rock Springs Capital Management acquired 90,000 Novo Nordisk shares in the first quarter, valued at approximately $3.31 million. Institutional investors and hedge funds collectively own 11.54% of the company.
• Novo Nordisk reported quarterly revenue of $10.85 billion and earnings per share of $1.03, with a 37.23% net margin and 63.31% return on equity.
• Analyst sentiment remains mixed: five analysts rate the stock Buy, 16 Hold and two Sell. The consensus rating is Hold, with an average price target of $65.56 versus the reported share price of $49.63.

Rock Springs Capital Management LP acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 90,000 shares of the company's stock, valued at approximately $3,308,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVO. Revolve Wealth Partners LLC boosted its stake in shares of Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after acquiring an additional 200 shares in the last quarter. AQR Capital Management LLC increased its stake in Novo Nordisk A/S by 21.0% in the 1st quarter. AQR Capital Management LLC now owns 62,099 shares of the company's stock valued at $4,312,000 after purchasing an additional 10,758 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Novo Nordisk A/S by 18.2% during the second quarter. Sivia Capital Partners LLC now owns 10,320 shares of the company's stock worth $712,000 after purchasing an additional 1,587 shares during the last quarter. Invesco Ltd. raised its holdings in Novo Nordisk A/S by 26.3% during the second quarter. Invesco Ltd. now owns 419,691 shares of the company's stock worth $28,967,000 after purchasing an additional 87,467 shares during the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in Novo Nordisk A/S during the second quarter worth $314,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $49.63 on Tuesday. The stock has a market capitalization of $221.58 billion, a P/E ratio of 11.65, a P/E/G ratio of 4.45 and a beta of 0.77. Novo Nordisk A/S has a 12-month low of $35.12 and a 12-month high of $71.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56. The firm's 50-day moving average is $46.46 and its two-hundred day moving average is $45.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. The firm had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. Equities analysts predict that Novo Nordisk A/S will post 3.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wall Street Zen lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Zacks Research downgraded Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Citigroup reiterated a "neutral" rating on shares of Novo Nordisk A/S in a research report on Monday, July 20th. Nordea Equity Research raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Friday, June 19th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Novo Nordisk A/S in a report on Monday, July 20th. Five research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of "Hold" and an average target price of $65.56.

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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