Maverick Capital Ltd. Acquires Shares of 2,080,121 Novo Nordisk A/S $NVO

Maverick Capital Ltd. acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the first quarter, HoldingsChannel reports. The firm acquired 2,080,121 shares of the company’s stock, valued at approximately $76,444,000.

Several other large investors have also recently made changes to their positions in NVO. Loomis Sayles & Co. L P boosted its stake in Novo Nordisk A/S by 6.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 17,135,384 shares of the company’s stock valued at $871,848,000 after buying an additional 969,916 shares during the last quarter. Franklin Resources Inc. increased its stake in Novo Nordisk A/S by 5.1% in the 4th quarter. Franklin Resources Inc. now owns 14,702,508 shares of the company’s stock worth $748,064,000 after acquiring an additional 717,719 shares during the last quarter. Morgan Stanley raised its holdings in shares of Novo Nordisk A/S by 3.5% during the 4th quarter. Morgan Stanley now owns 12,842,089 shares of the company’s stock worth $653,406,000 after acquiring an additional 428,660 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Novo Nordisk A/S by 99.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock valued at $492,940,000 after acquiring an additional 4,836,285 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $287,660,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $49.63 on Tuesday. The firm has a market capitalization of $221.58 billion, a PE ratio of 11.65, a PEG ratio of 4.45 and a beta of 0.77. The stock’s fifty day moving average is $46.46 and its 200 day moving average is $45.63. Novo Nordisk A/S has a fifty-two week low of $35.12 and a fifty-two week high of $71.28. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The company had revenue of $10.85 billion during the quarter. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.39 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on NVO. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. HSBC reiterated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Friday, June 19th. Weiss Ratings restated a “sell (d+)” rating on shares of Novo Nordisk A/S in a research report on Monday, July 20th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $65.56.

Novo Nordisk A/S Profile

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.