Saratoga Research & Investment Management raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 797,432 shares of the company’s stock after buying an additional 43,556 shares during the period. Novo Nordisk A/S comprises about 3.8% of Saratoga Research & Investment Management’s portfolio, making the stock its 10th largest position. Saratoga Research & Investment Management’s holdings in Novo Nordisk A/S were worth $42,886,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NVO. Penobscot Investment Management Company Inc. raised its stake in Novo Nordisk A/S by 7.8% in the second quarter. Penobscot Investment Management Company Inc. now owns 33,320 shares of the company’s stock valued at $1,792,000 after buying an additional 2,400 shares during the last quarter. Dock Street Asset Management Inc. increased its position in shares of Novo Nordisk A/S by 0.4% in the second quarter. Dock Street Asset Management Inc. now owns 84,162 shares of the company’s stock valued at $4,526,000 after buying an additional 330 shares during the period. Advisory Services Network LLC increased its position in shares of Novo Nordisk A/S by 28.8% in the second quarter. Advisory Services Network LLC now owns 2,238 shares of the company’s stock valued at $120,000 after buying an additional 500 shares during the period. Private Wealth Partners LLC increased its position in shares of Novo Nordisk A/S by 24.0% in the second quarter. Private Wealth Partners LLC now owns 16,000 shares of the company’s stock valued at $860,000 after buying an additional 3,100 shares during the period. Finally, Agran Libbie increased its position in shares of Novo Nordisk A/S by 3.4% in the second quarter. Agran Libbie now owns 9,175 shares of the company’s stock valued at $493,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 7.54% of the company’s stock.

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

Shares of Novo Nordisk A/S (NYSE:NVO) traded up 1.89% during midday trading on Monday, reaching $40.33. 7,221,360 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $44.00 and a 200-day moving average of $51.42. Novo Nordisk A/S has a 1-year low of $39.03 and a 1-year high of $59.00. The company has a market capitalization of $102.29 billion, a PE ratio of 19.07 and a beta of 0.73.

Several equities analysts have recently issued reports on the stock. Jefferies Group reissued a “hold” rating on shares of Novo Nordisk A/S in a report on Sunday. HSBC reissued a “hold” rating on shares of Novo Nordisk A/S in a report on Thursday. Piper Jaffray Cos. assumed coverage on shares of Novo Nordisk A/S in a report on Friday, September 23rd. They set a “neutral” rating for the company. Bank of America Corp. set a $57.00 price target on shares of Novo Nordisk A/S and gave the company a “hold” rating in a report on Saturday, September 17th. Finally, BNP Paribas raised shares of Novo Nordisk A/S from a “neutral” rating to an “outperform” rating in a report on Tuesday, September 13th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Novo Nordisk A/S has an average rating of “Buy” and an average price target of $61.33.

About Novo Nordisk A/S

Novo Nordisk A/S is a healthcare company. The Company is engaged in discovery, development, manufacturing and marketing of pharmaceutical products. The Company’s business segments include diabetes and obesity care, and biopharmaceuticals. The diabetes and obesity care segment covers insulins, glucagon-like peptide-1 (GLP-1), other protein-related products (such as glucagon, protein-related delivery systems and needles), oral anti-diabetic drugs and obesity.

5 Day Chart for NYSE:NVO

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