QV Investors Inc. Increases Position in Novo Nordisk A/S $NVO

QV Investors Inc. raised its position in shares of Novo Nordisk A/S (NYSE:NVO) by 76.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,158 shares of the company’s stock after purchasing an additional 97,044 shares during the period. QV Investors Inc.’s holdings in Novo Nordisk A/S were worth $12,383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC raised its holdings in shares of Novo Nordisk A/S by 209.8% during the 3rd quarter. True Wealth Design LLC now owns 443 shares of the company’s stock valued at $25,000 after buying an additional 300 shares in the last quarter. NewSquare Capital LLC grew its position in Novo Nordisk A/S by 174.1% during the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after acquiring 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 worth approximately $37,000. Maseco LLP bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter worth approximately $39,000. Finally, Copeland Capital Management LLC boosted its stake in shares of Novo Nordisk A/S by 47.3% in the 2nd quarter. Copeland Capital Management LLC now owns 579 shares of the company’s stock valued at $40,000 after purchasing an additional 186 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Up 5.0%

Shares of NYSE:NVO opened at $62.28 on Friday. The stock’s 50-day moving average is $51.85 and its 200 day moving average is $54.85. The company has a market cap of $278.08 billion, a PE ratio of 18.10 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.57. Novo Nordisk A/S has a 1 year low of $43.08 and a 1 year high of $93.80.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVO. Hsbc Global Res cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Argus restated a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, December 8th. Morgan Stanley restated an “underweight” rating and set a $42.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, December 3rd. Finally, HSBC reiterated a “hold” rating and issued a $54.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Hold” and a consensus price target of $56.21.

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.