Channing Global Advisors LLC Buys 6,581 Shares of Novo Nordisk A/S (NYSE:NVO)

Channing Global Advisors LLC increased its stake in Novo Nordisk A/S (NYSE:NVO) by 159.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,698 shares of the company’s stock after buying an additional 6,581 shares during the quarter. Novo Nordisk A/S comprises approximately 0.5% of Channing Global Advisors LLC’s holdings, making the stock its 28th largest holding. Channing Global Advisors LLC’s holdings in Novo Nordisk A/S were worth $743,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in 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 worth $1,332,655,000 after buying an additional 1,165,955 shares during the last quarter. GQG Partners LLC lifted its position in shares of 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 worth $1,117,790,000 after purchasing an additional 5,556,460 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Novo Nordisk A/S by 34.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock worth $995,397,000 after purchasing an additional 2,947,771 shares during the last quarter. Folketrygdfondet lifted 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 worth $765,917,000 after purchasing an additional 40,313 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Novo Nordisk A/S by 1.5% during the fourth quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company’s stock worth $715,084,000 after purchasing an additional 123,681 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $73.76 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. Novo Nordisk A/S has a 12 month low of $57.00 and a 12 month high of $148.15. The stock’s fifty day moving average price is $68.41 and its 200-day moving average price is $78.48.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. The company had revenue of $11.87 billion for the quarter. On average, analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on NVO shares. Hsbc Global Res upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, April 28th. BMO Capital Markets reiterated a “market perform” rating and set a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Wall Street Zen upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Finally, BNP Paribas started coverage on Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an “underperform” rating for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $112.00.

Novo Nordisk A/S Company Profile

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.