Employees Retirement System of Texas Acquires 6,560 Shares of Novo Nordisk A/S (NYSE:NVO)

Employees Retirement System of Texas boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 9.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 72,964 shares of the company’s stock after buying an additional 6,560 shares during the period. Employees Retirement System of Texas’ holdings in Novo Nordisk A/S were worth $6,276,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NVO. Grassi Investment Management bought a new position in Novo Nordisk A/S during the 4th quarter worth about $215,000. Nisa Investment Advisors LLC boosted its position in shares of Novo Nordisk A/S by 36.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,500 shares of the company’s stock worth $129,000 after buying an additional 400 shares during the period. Cornerstone Wealth Management LLC grew its holdings in shares of Novo Nordisk A/S by 26.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 5,589 shares of the company’s stock worth $481,000 after buying an additional 1,183 shares in the last quarter. Sound Income Strategies LLC raised its position in Novo Nordisk A/S by 82.1% in the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after buying an additional 243 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its stake in Novo Nordisk A/S by 25.7% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 3,555 shares of the company’s stock valued at $306,000 after acquiring an additional 726 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the subject of several research reports. Stifel Nicolaus cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating for the company. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Dbs Bank downgraded shares of Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. Finally, Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.00.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $67.26 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average price is $66.31 and its two-hundred day moving average price is $82.74. The company has a market cap of $301.83 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 0.90 and a beta of 0.65. Novo Nordisk A/S has a twelve month low of $57.00 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The business had revenue of $11.87 billion for the quarter. On average, analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

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.