Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its stake in Novo Nordisk A/S (NYSE:NVO) by 10.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 8,589,222 shares of the company’s stock after purchasing an additional 823,036 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Novo Nordisk A/S were worth $1,102,857,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Novo Nordisk A/S by 38.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after buying an additional 26,067 shares during the period. McKinley Carter Wealth Services Inc. increased its stake in Novo Nordisk A/S by 37.0% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 60,356 shares of the company’s stock worth $6,244,000 after buying an additional 16,293 shares during the period. Harbour Trust & Investment Management Co purchased a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $6,105,000. Bank of New Hampshire increased its stake in Novo Nordisk A/S by 1,356.8% during the 1st quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after buying an additional 12,347 shares during the period. Finally, Cim LLC purchased a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $23,547,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVO has been the topic of a number of recent analyst reports. Argus increased their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, July 1st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S Stock Down 0.9 %

Shares of Novo Nordisk A/S stock traded down $1.13 during trading hours on Friday, hitting $126.73. The company had a trading volume of 3,179,137 shares, compared to its average volume of 4,034,653. The company has a market cap of $568.70 billion, a P/E ratio of 43.70, a price-to-earnings-growth ratio of 1.27 and a beta of 0.41. The company’s 50-day moving average is $138.69 and its two-hundred day moving average is $128.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. Novo Nordisk A/S has a twelve month low of $77.96 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. Analysts anticipate that Novo Nordisk A/S will post 3.38 earnings per share for the current fiscal year.

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.