Sustainable Growth Advisers LP Has $193.94 Million Stake in Novo Nordisk (NVO)

Sustainable Growth Advisers LP grew its stake in Novo Nordisk (NYSE:NVO) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,937,893 shares of the company’s stock after purchasing an additional 125,614 shares during the quarter. Novo Nordisk comprises approximately 2.3% of Sustainable Growth Advisers LP’s holdings, making the stock its 21st largest holding. Sustainable Growth Advisers LP owned 0.16% of Novo Nordisk worth $193,942,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Parsec Financial Management Inc. increased its position in shares of Novo Nordisk by 0.3% in the 4th quarter. Parsec Financial Management Inc. now owns 366,541 shares of the company’s stock valued at $19,672,000 after buying an additional 996 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Novo Nordisk by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 27,685 shares of the company’s stock valued at $1,485,000 after buying an additional 1,070 shares in the last quarter. Signaturefd LLC increased its position in shares of Novo Nordisk by 19.2% in the 4th quarter. Signaturefd LLC now owns 7,366 shares of the company’s stock valued at $395,000 after buying an additional 1,184 shares in the last quarter. Oxbow Advisors LLC increased its position in shares of Novo Nordisk by 3.8% in the 1st quarter. Oxbow Advisors LLC now owns 32,296 shares of the company’s stock valued at $1,591,000 after buying an additional 1,190 shares in the last quarter. Finally, Polen Capital Management LLC increased its position in shares of Novo Nordisk by 6.8% in the 4th quarter. Polen Capital Management LLC now owns 18,719 shares of the company’s stock valued at $1,005,000 after buying an additional 1,194 shares in the last quarter. 6.64% of the stock is currently owned by institutional investors.

NVO opened at $48.72 on Friday. Novo Nordisk has a 12 month low of $40.78 and a 12 month high of $58.37. The firm has a market capitalization of $119.05 billion, a P/E ratio of 20.82, a PEG ratio of 2.51 and a beta of 0.66.

Novo Nordisk announced that its board has approved a share buyback plan on Thursday, February 1st that permits the company to repurchase shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Separately, Zacks Investment Research cut shares of Novo Nordisk from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $64.00.

Novo Nordisk Company Profile

Novo Nordisk A/S, a healthcare company, engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides insulins, GLP-1 and related delivery systems, and oral anti-diabetic drugs and obesity.

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Institutional Ownership by Quarter for Novo Nordisk (NYSE:NVO)

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