Inscription Capital LLC Takes Position in Novo Nordisk A/S (NYSE:NVO)

Inscription Capital LLC bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,831 shares of the company’s stock, valued at approximately $335,000.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Wall Street Zen upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Guggenheim cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, BMO Capital Markets restated a “market perform” rating and set a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $112.00.

Novo Nordisk A/S Stock Down 0.4%

Shares of NVO opened at $74.03 on Thursday. The firm has a market cap of $332.19 billion, a P/E ratio of 21.90, a PEG ratio of 1.33 and a beta of 0.66. Novo Nordisk A/S has a 12 month low of $57.00 and a 12 month high of $148.15. The stock’s 50 day moving average is $67.98 and its two-hundred day moving average is $79.17. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. The firm had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. Analysts predict that Novo Nordisk A/S will post 3.84 earnings per share 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.