Folketrygdfondet Acquires 117,370 Shares of Novo Nordisk A/S $NVO

Folketrygdfondet increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,211,913 shares of the company’s stock after purchasing an additional 117,370 shares during the period. Novo Nordisk A/S accounts for about 13.3% of Folketrygdfondet’s holdings, making the stock its 2nd biggest position. Folketrygdfondet owned about 0.23% of Novo Nordisk A/S worth $566,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in Novo Nordisk A/S by 209.8% in the 3rd quarter. True Wealth Design LLC now owns 443 shares of the company’s stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. NewSquare Capital LLC raised its position in shares of Novo Nordisk A/S by 174.1% in the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after buying an additional 282 shares during the last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Novo Nordisk A/S during the second quarter valued at approximately $37,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Novo Nordisk A/S during the third quarter valued at approximately $39,000. Finally, Copeland Capital Management LLC boosted its position in Novo Nordisk A/S by 47.3% during the second quarter. Copeland Capital Management LLC now owns 579 shares of the company’s stock worth $40,000 after acquiring an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $59.30 on Friday. The company has a market cap of $264.77 billion, a price-to-earnings ratio of 17.24 and a beta of 0.66. Novo Nordisk A/S has a 12 month low of $43.08 and a 12 month high of $93.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.57. The stock’s 50-day moving average is $53.20 and its 200-day moving average is $54.57.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results 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 the consensus estimate of $11.98 billion. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. Equities analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

NVO has been the subject of several analyst reports. CICC Research started coverage on Novo Nordisk A/S in a report on Friday, January 9th. They issued an “outperform” rating and a $73.50 price target for the company. Jefferies Financial Group began coverage on Novo Nordisk A/S in a research note on Monday, October 27th. They issued an “underperform” rating for the company. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Argus reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday, December 8th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Novo Nordisk A/S in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $57.79.

Novo Nordisk A/S Company Profile

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.