Saratoga Research & Investment Management Buys 58,517 Shares of Novo Nordisk A/S $NVO

Saratoga Research & Investment Management grew its position in shares of Novo Nordisk A/S (NYSE:NVO) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,512,677 shares of the company’s stock after buying an additional 58,517 shares during the period. Novo Nordisk A/S comprises 5.6% of Saratoga Research & Investment Management’s portfolio, making the stock its 6th largest position. Saratoga Research & Investment Management’s holdings in Novo Nordisk A/S were worth $104,405,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NVO. Lockheed Martin Investment Management Co. raised its position in shares of Novo Nordisk A/S by 179.4% during the 2nd quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock worth $2,999,000 after buying an additional 27,900 shares in the last quarter. Unified Investment Management bought a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $692,000. Acadian Asset Management LLC increased its stake in shares of Novo Nordisk A/S by 15,919.9% during the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after acquiring an additional 1,038,137 shares during the period. Guild Investment Management Inc. increased its stake in shares of Novo Nordisk A/S by 20.7% during the second quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock valued at $2,553,000 after acquiring an additional 6,345 shares during the period. Finally, Norden Group LLC raised its holdings in Novo Nordisk A/S by 216.3% during the second quarter. Norden Group LLC now owns 96,332 shares of the company’s stock worth $6,649,000 after purchasing an additional 65,877 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVO. Zacks Research lowered Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Novo Nordisk A/S in a report on Monday, December 8th. Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. Hsbc Global Res cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $53.33.

Novo Nordisk A/S Stock Performance

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

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.77 by $0.25. The business had revenue of $11.79 billion during the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S 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.