XXEC Inc. Increases Stake in Novo Nordisk A/S (NYSE:NVO)

XXEC Inc. boosted its position in Novo Nordisk A/S (NYSE:NVO) by 207.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 56,429 shares of the company’s stock after acquiring an additional 38,102 shares during the period. Novo Nordisk A/S accounts for approximately 3.4% of XXEC Inc.’s portfolio, making the stock its 13th largest holding. XXEC Inc.’s holdings in Novo Nordisk A/S were worth $3,918,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NVO. Bank of America Corp DE grew its position in shares of Novo Nordisk A/S by 8.1% in the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company’s stock valued at $1,332,655,000 after purchasing an additional 1,165,955 shares in the last quarter. GQG Partners LLC boosted its stake in Novo Nordisk A/S by 74.7% in the 4th quarter. GQG Partners LLC now owns 12,994,533 shares of the company’s stock worth $1,117,790,000 after purchasing an additional 5,556,460 shares during the period. Loomis Sayles & Co. L P grew its holdings in Novo Nordisk A/S by 34.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock valued at $995,397,000 after buying an additional 2,947,771 shares in the last quarter. Folketrygdfondet increased its position in shares of Novo Nordisk A/S by 0.5% during the fourth quarter. Folketrygdfondet now owns 8,903,938 shares of the company’s stock valued at $765,917,000 after buying an additional 40,313 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Novo Nordisk A/S by 1.5% in the fourth quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company’s stock worth $715,084,000 after buying an additional 123,681 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on NVO. Hsbc Global Res raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, April 28th. Dbs Bank lowered shares of Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Wall Street Zen raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. Finally, BNP Paribas initiated coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $128.00.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $71.40 on Monday. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $148.15. The company has a fifty day moving average of $65.58 and a 200-day moving average of $81.43. The company has a market capitalization of $320.41 billion, a P/E ratio of 21.70, a P/E/G ratio of 0.90 and a beta of 0.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. As a group, equities research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal 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.