Baird Financial Group Inc. Has $101.92 Million Stock Position in Novo Nordisk A/S $NVO

Baird Financial Group Inc. lifted its stake in Novo Nordisk A/S (NYSE:NVO) by 42.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,476,673 shares of the company’s stock after purchasing an additional 441,034 shares during the quarter. Baird Financial Group Inc.’s holdings in Novo Nordisk A/S were worth $101,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lockheed Martin Investment Management Co. boosted its holdings in Novo Nordisk A/S by 179.4% in the second quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock valued at $2,999,000 after acquiring an additional 27,900 shares during the last quarter. Unified Investment Management bought a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at about $692,000. Acadian Asset Management LLC boosted its stake in shares of Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after purchasing an additional 1,038,137 shares during the last quarter. Guild Investment Management Inc. grew its position in shares of Novo Nordisk A/S by 20.7% during the 2nd quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock worth $2,553,000 after buying an additional 6,345 shares during the period. Finally, Norden Group LLC raised its stake in shares of 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 buying an additional 65,877 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

NVO stock opened at $47.51 on Thursday. Novo Nordisk A/S has a 1-year low of $43.08 and a 1-year high of $112.52. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The firm has a market cap of $212.11 billion, a PE ratio of 13.81 and a beta of 0.67. The business’s 50-day moving average price is $52.10 and its two-hundred day moving average price is $59.33.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.25. The company 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, research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVO. BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $50.00 to $46.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 25th. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Jefferies Financial Group began coverage on Novo Nordisk A/S in a research note on Monday, October 27th. They set an “underperform” rating for the company. HSBC lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Finally, TD Cowen decreased their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.00.

About Novo Nordisk A/S

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.