Stratos Investment Management LLC Increases Stake in Novo Nordisk A/S (NYSE:NVO)

Stratos Investment Management LLC raised its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 63.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,046 shares of the company's stock after acquiring an additional 32,559 shares during the period. Stratos Investment Management LLC's holdings in Novo Nordisk A/S were worth $5,836,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in Novo Nordisk A/S by 58.5% during the 4th quarter. Victory Capital Management Inc. now owns 62,897 shares of the company's stock worth $5,410,000 after acquiring an additional 23,223 shares in the last quarter. North Star Investment Management Corp. grew 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 acquiring an additional 3,200 shares in the last quarter. Stanley Laman Group Ltd. acquired a new position in Novo Nordisk A/S during the 1st quarter worth approximately $390,000. Dover Advisors LLC acquired a new position in Novo Nordisk A/S during the 1st quarter worth approximately $505,000. Finally, Natural Investments LLC acquired a new position in Novo Nordisk A/S during the 4th quarter worth approximately $1,345,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVO has been the subject of several recent analyst reports. BMO Capital Markets restated a "market perform" rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Guggenheim downgraded shares of 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 shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They issued an "underperform" rating for the company. Two investment 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 company's stock. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of "Hold" and a consensus target price of $112.00.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO traded up $0.16 on Wednesday, reaching $69.80. 5,372,841 shares of the company were exchanged, compared to its average volume of 7,292,013. The firm has a market cap of $311.66 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 1.36 and a beta of 0.64. Novo Nordisk A/S has a 1-year low of $57.00 and a 1-year high of $143.49. The company has a 50-day moving average of $70.19 and a 200-day moving average of $75.37. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting analysts' consensus estimates of $0.92. The firm 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%. Equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

About Novo Nordisk A/S

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.