FORA Capital LLC Lowers Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

FORA Capital LLC cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 19.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,756 shares of the company's stock after selling 8,834 shares during the quarter. FORA Capital LLC's holdings in Novo Nordisk A/S were worth $3,076,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in shares of Novo Nordisk A/S by 8.1% during the 4th 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 increased its holdings 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. Loomis Sayles & Co. L P lifted its stake 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 worth $995,397,000 after purchasing an additional 2,947,771 shares during the last quarter. Folketrygdfondet grew its position in shares of Novo Nordisk A/S by 0.5% in the 4th quarter. Folketrygdfondet now owns 8,903,938 shares of the company's stock valued at $765,917,000 after buying an additional 40,313 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Novo Nordisk A/S by 1.5% in 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 during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $64.78 on Friday. Novo Nordisk A/S has a 12 month low of $57.00 and a 12 month high of $148.15. The firm has a market capitalization of $290.72 billion, a P/E ratio of 19.69, a P/E/G ratio of 0.90 and a beta of 0.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The company's fifty day moving average price is $69.65 and its two-hundred day moving average price is $86.58.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting analysts' consensus estimates of $0.92. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The company had revenue of $11.87 billion during the quarter, compared to the consensus estimate of $79.17 billion. On average, research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVO. BNP Paribas assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating on the stock. Kepler Capital Markets upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Morgan Stanley assumed coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an "equal weight" rating for the company. Finally, Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Novo Nordisk A/S has an average rating of "Moderate Buy" and a consensus price target of $135.00.

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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