Toronto Dominion Bank Buys 73,432 Shares of Novo Nordisk A/S (NYSE:NVO)

Toronto Dominion Bank grew its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 494.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,295 shares of the company's stock after acquiring an additional 73,432 shares during the quarter. Toronto Dominion Bank's holdings in Novo Nordisk A/S were worth $7,595,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NVO. GQG Partners LLC increased its stake 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 valued at $1,117,790,000 after acquiring an additional 5,556,460 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $404,910,000. Loomis Sayles & Co. L P grew its position in shares of 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 valued at $995,397,000 after purchasing an additional 2,947,771 shares during the period. Nuveen Asset Management LLC grew its position in shares of Novo Nordisk A/S by 73.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock valued at $537,189,000 after purchasing an additional 2,639,693 shares during the period. Finally, Clearbridge Investments LLC grew its position in shares of Novo Nordisk A/S by 59.8% in the 4th quarter. Clearbridge Investments LLC now owns 4,283,317 shares of the company's stock valued at $368,451,000 after purchasing an additional 1,602,549 shares during the period. 11.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on NVO. BNP Paribas began coverage on Novo Nordisk A/S in a research report on Tuesday, April 15th. They issued an "underperform" rating for the company. Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an "equal weight" rating for the company. Guggenheim lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Finally, Dbs Bank downgraded 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 issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $135.00.

Novo Nordisk A/S Trading Down 0.0%

NYSE:NVO opened at $68.19 on Thursday. Novo Nordisk A/S has a twelve month low of $57.00 and a twelve month high of $148.15. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $66.82 and a two-hundred day moving average price of $83.65. The company has a market cap of $306.02 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 0.90 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. As a group, analysts expect that Novo Nordisk A/S will post 3.84 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.