Sustainable Growth Advisers LP Acquires 89,413 Shares of Novo Nordisk A/S (NYSE:NVO)

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Sustainable Growth Advisers LP raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 2.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,627,615 shares of the company’s stock after purchasing an additional 89,413 shares during the quarter. Novo Nordisk A/S accounts for approximately 1.9% of Sustainable Growth Advisers LP’s portfolio, making the stock its 29th largest position. Sustainable Growth Advisers LP’s holdings in Novo Nordisk A/S were worth $185,153,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Tdam USA Inc. raised its position in shares of Novo Nordisk A/S by 1.5% during the first quarter. Tdam USA Inc. now owns 14,766 shares of the company’s stock worth $772,000 after acquiring an additional 214 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Novo Nordisk A/S by 1.9% during the second quarter. Sunbelt Securities Inc. now owns 12,959 shares of the company’s stock worth $661,000 after acquiring an additional 238 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Novo Nordisk A/S by 3.5% during the first quarter. Ballentine Partners LLC now owns 7,220 shares of the company’s stock worth $378,000 after acquiring an additional 242 shares during the last quarter. Cetera Advisor Networks LLC raised its position in shares of Novo Nordisk A/S by 4.5% during the first quarter. Cetera Advisor Networks LLC now owns 6,101 shares of the company’s stock worth $320,000 after acquiring an additional 262 shares during the last quarter. Finally, Capital Insight Partners LLC raised its position in shares of Novo Nordisk A/S by 1.7% during the second quarter. Capital Insight Partners LLC now owns 17,049 shares of the company’s stock worth $870,000 after acquiring an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 7.11% of the company’s stock.

A number of equities research analysts have recently weighed in on NVO shares. Barclays upgraded Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $51.85 target price for the company in a research report on Tuesday, June 11th. UBS Group restated a “buy” rating and set a $355.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, June 19th. Jefferies Financial Group downgraded Novo Nordisk A/S from a “hold” rating to an “underperform” rating in a research report on Friday, August 30th. Pareto Securities upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Finally, Deutsche Bank downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $52.42 target price for the company. in a research report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Novo Nordisk A/S has a consensus rating of “Hold” and an average price target of $111.58.

NYSE NVO traded up $0.44 on Wednesday, reaching $53.34. The company had a trading volume of 57,296 shares, compared to its average volume of 1,332,120. The stock’s 50 day moving average is $50.22 and its 200-day moving average is $49.86. The stock has a market cap of $125.27 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.23 and a beta of 0.57. The company has a quick ratio of 0.73, a current ratio of 1.04 and a debt-to-equity ratio of 0.06. Novo Nordisk A/S has a 52 week low of $41.23 and a 52 week high of $53.13.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Friday, August 9th. The company reported $0.61 EPS for the quarter, meeting analysts’ consensus estimates of $0.61. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.41 billion. Novo Nordisk A/S had a return on equity of 75.16% and a net margin of 32.16%. As a group, analysts forecast that Novo Nordisk A/S will post 2.44 EPS for the current year.

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a $0.318 dividend. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is presently 25.40%.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S, a healthcare company, engages in the 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 products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

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

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