Oak Family Advisors LLC Grows Stake in Novo Nordisk A/S $NVO

Oak Family Advisors LLC raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 8.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 153,085 shares of the company’s stock after purchasing an additional 11,705 shares during the period. Novo Nordisk A/S makes up about 2.1% of Oak Family Advisors LLC’s investment portfolio, making the stock its 8th largest holding. Oak Family Advisors LLC’s holdings in Novo Nordisk A/S were worth $8,495,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC increased its holdings in Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after buying an additional 10,001,898 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Novo Nordisk A/S by 2,101.5% in the third quarter. SG Americas Securities LLC now owns 2,383,176 shares of the company’s stock worth $132,242,000 after acquiring an additional 2,274,925 shares during the period. Bank of Montreal Can grew its stake in shares of Novo Nordisk A/S by 101.4% in the second quarter. Bank of Montreal Can now owns 2,475,300 shares of the company’s stock worth $170,845,000 after acquiring an additional 1,246,467 shares during the period. DAVENPORT & Co LLC lifted its position in Novo Nordisk A/S by 54.8% during the third quarter. DAVENPORT & Co LLC now owns 2,642,498 shares of the company’s stock valued at $146,644,000 after purchasing an additional 935,468 shares during the period. Finally, Sustainable Growth Advisers LP boosted its holdings in Novo Nordisk A/S by 11.7% in the second quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock worth $427,416,000 after purchasing an additional 649,390 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NVO shares. Hsbc Global Res lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. The Goldman Sachs Group dropped their target price on Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. BMO Capital Markets reiterated a “market perform” rating on shares of Novo Nordisk A/S in a research note on Tuesday, December 23rd. Zacks Research lowered shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 3rd. Finally, Rothschild Redb raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Hold” and an average price target of $53.33.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $57.34 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 12 month low of $43.08 and a 12 month high of $93.80. The stock has a market cap of $256.02 billion, a price-to-earnings ratio of 16.67 and a beta of 0.66. The company’s 50 day moving average is $49.47 and its two-hundred day moving average is $55.47.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. The firm had revenue of $11.79 billion during the quarter, compared to analysts’ expectations of $11.98 billion. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.