Novo Nordisk A/S $NVO Shares Purchased by Saratoga Research & Investment Management

by · The Markets Daily

Saratoga Research & Investment Management boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO – Free Report) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,512,677 shares of the company’s stock after purchasing an additional 58,517 shares during the period. Novo Nordisk A/S makes up approximately 5.6% of Saratoga Research & Investment Management’s portfolio, making the stock its 6th biggest holding. Saratoga Research & Investment Management’s holdings in Novo Nordisk A/S were worth $104,405,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NVO. NewSquare Capital LLC raised its position in shares of Novo Nordisk A/S by 174.1% in the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after buying an additional 282 shares during the period. Disciplina Capital Management LLC grew its position in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after acquiring an additional 297 shares during the period. Mid American Wealth Advisory Group Inc. acquired a new stake in Novo Nordisk A/S during the second quarter worth about $37,000. State of Wyoming purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $38,000. Finally, Maseco LLP acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

NVO has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. The Goldman Sachs Group dropped their price objective on shares of Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, November 28th. Argus reissued a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday, December 8th. Dbs Bank upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, August 22nd. Finally, Jefferies Financial Group initiated coverage on shares of Novo Nordisk A/S in a research report on Monday, October 27th. They set an “underperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Hold” and an average price target of $53.33.

Read Our Latest Stock Analysis on NVO

Novo Nordisk A/S Trading Down 0.3%

NVO opened at $50.12 on Friday. The firm’s 50 day moving average is $50.86 and its 200-day moving average is $58.36. Novo Nordisk A/S has a 52-week low of $43.08 and a 52-week high of $109.88. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $223.79 billion, a P/E ratio of 14.57 and a beta of 0.67.

Novo Nordisk A/S (NYSE:NVO – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. The business had revenue of $11.79 billion during the quarter, compared to analyst estimates of $11.98 billion. Analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Company Profile

(Free Report)

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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