Novo Nordisk A/S (NYSE:NVO) is Folketrygdfondet’s 2nd Largest Position

Folketrygdfondet increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,756,034 shares of the company’s stock after buying an additional 124,770 shares during the quarter. Novo Nordisk A/S comprises about 24.4% of Folketrygdfondet’s holdings, making the stock its 2nd largest position. Folketrygdfondet owned approximately 0.20% of Novo Nordisk A/S worth $1,124,275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of NVO. Cravens & Co Advisors LLC grew its holdings in shares of Novo Nordisk A/S by 1.0% in the 1st quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after acquiring an additional 85 shares during the period. U.S. Capital Wealth Advisors LLC grew its holdings in Novo Nordisk A/S by 0.6% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock valued at $1,595,000 after purchasing an additional 90 shares during the last quarter. Clarius Group LLC increased its position in shares of Novo Nordisk A/S by 0.5% in the fourth quarter. Clarius Group LLC now owns 18,505 shares of the company’s stock valued at $1,914,000 after buying an additional 93 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 2.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 4,955 shares of the company’s stock worth $513,000 after buying an additional 95 shares during the last quarter. Finally, Atlas Brown Inc. boosted its position in shares of Novo Nordisk A/S by 2.5% in the 1st quarter. Atlas Brown Inc. now owns 3,823 shares of the company’s stock worth $491,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 2.2 %

NYSE:NVO traded down $3.22 during mid-day trading on Wednesday, reaching $143.69. The company’s stock had a trading volume of 4,382,327 shares, compared to its average volume of 4,477,395. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a market cap of $644.81 billion, a P/E ratio of 49.54, a P/E/G ratio of 1.46 and a beta of 0.41. The company’s fifty day simple moving average is $133.78 and its two-hundred day simple moving average is $122.73. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The business had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. On average, equities analysts predict that Novo Nordisk A/S will post 3.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NVO shares. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, June 17th. BMO Capital Markets restated an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a research report on Tuesday. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Finally, Argus boosted their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus price target of $145.67.

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.