Novo Nordisk A/S $NVO Shares Bought by Diamant Asset Management Inc.

Diamant Asset Management Inc. lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2,030.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 401,310 shares of the company’s stock after purchasing an additional 382,470 shares during the quarter. Diamant Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $14,748,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital International Investors lifted its stake in shares of Novo Nordisk A/S by 52.4% in the 3rd quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock worth $982,969,000 after acquiring an additional 6,092,192 shares during the period. Loomis Sayles & Co. L P boosted its holdings in shares of Novo Nordisk A/S by 6.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 17,135,384 shares of the company’s stock valued at $871,848,000 after acquiring an additional 969,916 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Novo Nordisk A/S by 5.1% during the fourth quarter. Franklin Resources Inc. now owns 14,702,508 shares of the company’s stock valued at $748,064,000 after acquiring an additional 717,719 shares during the period. Morgan Stanley increased its stake in shares of Novo Nordisk A/S by 3.5% during the fourth quarter. Morgan Stanley now owns 12,842,089 shares of the company’s stock valued at $653,406,000 after acquiring an additional 428,660 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Novo Nordisk A/S by 99.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock worth $492,940,000 after purchasing an additional 4,836,285 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NVO. Morgan Stanley upgraded Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $40.00 target price for the company in a research report on Tuesday, March 3rd. Weiss Ratings downgraded Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, April 22nd. Wolfe Research began coverage on Novo Nordisk A/S in a report on Thursday, March 26th. They issued a “peer perform” rating for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $41.00 target price (down from $63.00) on shares of Novo Nordisk A/S in a research note on Monday, March 2nd. Finally, TD Cowen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a research report on Tuesday, March 10th. Five research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.56.

Novo Nordisk A/S Trading Up 0.8%

Shares of NYSE:NVO opened at $48.01 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79. The stock has a market capitalization of $214.36 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 4.30 and a beta of 0.78. Novo Nordisk A/S has a 1-year low of $35.12 and a 1-year high of $71.79. The company has a 50 day moving average price of $43.79 and a 200 day moving average price of $45.83.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%.The company had revenue of $10.85 billion for the quarter. On average, research analysts anticipate that Novo Nordisk A/S will post 3.42 EPS for the current fiscal year.

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.