Sustainable Growth Advisers LP Buys 202,443 Shares of Novo Nordisk A/S (NYSE:NVO)

Sustainable Growth Advisers LP raised its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,543,246 shares of the company's stock after buying an additional 202,443 shares during the quarter. Novo Nordisk A/S comprises approximately 2.1% of Sustainable Growth Advisers LP's portfolio, making the stock its 21st biggest position. Sustainable Growth Advisers LP owned 0.12% of Novo Nordisk A/S worth $384,923,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NVO. Bank of America Corp DE boosted its holdings in 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 acquiring an additional 1,165,955 shares in the last quarter. GQG Partners LLC raised its position in shares of Novo Nordisk A/S by 74.7% in the 4th 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 boosted its stake in Novo Nordisk A/S by 34.2% in the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock worth $995,397,000 after purchasing an additional 2,947,771 shares in the last quarter. Folketrygdfondet grew its position in Novo Nordisk A/S by 6.9% during the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock valued at $661,202,000 after purchasing an additional 617,974 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in 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 valued at $715,084,000 after purchasing an additional 123,681 shares in the last quarter. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

NVO stock traded up $0.71 on Thursday, hitting $70.74. The company had a trading volume of 10,157,270 shares, compared to its average volume of 7,044,014. The stock's 50-day simple moving average is $70.43 and its 200 day simple moving average is $73.97. The stock has a market cap of $315.84 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 1.35 and a beta of 0.64. 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 has a 12-month low of $57.00 and a 12-month high of $139.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted 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 company had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Dbs Bank lowered shares of Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. BMO Capital Markets reiterated a "market perform" rating and set a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Guggenheim lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Finally, Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S has an average rating of "Hold" and a consensus target price of $112.00.

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.