Novo Nordisk A/S (NYSE:NVO) is Saratoga Research & Investment Management’s 8th Largest Position

Saratoga Research & Investment Management reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 5.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 783,791 shares of the company’s stock after selling 43,803 shares during the period. Novo Nordisk A/S accounts for approximately 4.6% of Saratoga Research & Investment Management’s portfolio, making the stock its 8th largest position. Saratoga Research & Investment Management’s holdings in Novo Nordisk A/S were worth $100,639,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Pacific Center for Financial Services lifted its holdings in Novo Nordisk A/S by 100.0% in the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. First PREMIER Bank bought a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $25,000. CNB Bank bought a new position in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $26,000. Tyler Stone Wealth Management increased its stake in shares of Novo Nordisk A/S by 100.0% during the third quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock valued at $27,000 after purchasing an additional 146 shares in the last quarter. Finally, West Paces Advisors Inc. increased its stake in shares of Novo Nordisk A/S by 100.0% during the third quarter. West Paces Advisors Inc. now owns 300 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 1.2 %

Shares of NVO traded down $1.75 on Friday, hitting $142.74. 2,757,544 shares of the stock traded hands, compared to its average volume of 3,502,773. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $148.15. The company has a market capitalization of $640.55 billion, a PE ratio of 49.22, a P/E/G ratio of 1.44 and a beta of 0.41. The business has a 50 day simple moving average of $135.00 and a 200 day simple moving average of $123.54.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.23 billion. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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