Rossby Financial LCC Decreases Stake in Novo Nordisk A/S (NYSE:NVO)

Rossby Financial LCC lowered its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 89.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 851 shares of the company's stock after selling 7,460 shares during the quarter. Rossby Financial LCC's holdings in Novo Nordisk A/S were worth $59,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Bank of America Corp DE raised its stake in shares of Novo Nordisk A/S by 8.1% in the fourth 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 during the last quarter. GQG Partners LLC raised its stake in shares of Novo Nordisk A/S by 74.7% in the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock worth $1,117,790,000 after purchasing an additional 5,556,460 shares during the last quarter. Loomis Sayles & Co. L P increased its position in Novo Nordisk A/S by 34.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock valued at $995,397,000 after acquiring an additional 2,947,771 shares during the last quarter. Folketrygdfondet increased its position in Novo Nordisk A/S by 0.5% during the fourth quarter. Folketrygdfondet now owns 8,903,938 shares of the company's stock valued at $765,917,000 after acquiring an additional 40,313 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Novo Nordisk A/S by 1.5% in the fourth quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company's stock valued at $715,084,000 after acquiring an additional 123,681 shares during the period. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $69.05 on Friday. The stock has a 50-day simple moving average of $69.96 and a two-hundred day simple moving average of $75.92. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $143.69. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. The firm has a market capitalization of $308.31 billion, a PE ratio of 20.43, a P/E/G ratio of 1.35 and a beta of 0.64.

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

Analysts Set New Price Targets

NVO has been the topic of several research reports. BNP Paribas initiated coverage on Novo Nordisk A/S in a research report on Tuesday, April 15th. They issued an "underperform" rating on the stock. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. BMO Capital Markets reissued a "market perform" rating and issued a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Dbs Bank cut Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Two investment 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. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of "Hold" and an average target price of $112.00.

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.

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