Choreo LLC Raises Stock Position in Novo Nordisk A/S (NYSE:NVO)

Choreo LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,108 shares of the company’s stock after acquiring an additional 194 shares during the quarter. Choreo LLC’s holdings in Novo Nordisk A/S were worth $322,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Jennison Associates LLC boosted its position in Novo Nordisk A/S by 100.3% during the third quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock worth $2,129,761,000 after purchasing an additional 11,727,507 shares in the last quarter. FMR LLC raised its stake in shares of Novo Nordisk A/S by 122.7% during the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after buying an additional 6,654,614 shares during the last quarter. Morgan Stanley boosted its position in shares of Novo Nordisk A/S by 96.5% in the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after buying an additional 4,526,199 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in Novo Nordisk A/S by 91.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock valued at $827,354,000 after acquiring an additional 4,350,862 shares in the last quarter. Finally, Polen Capital Management LLC acquired a new position in Novo Nordisk A/S during the third quarter worth about $718,995,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $123.08 on Friday. The firm has a market cap of $552.33 billion, a P/E ratio of 42.44, a P/E/G ratio of 2.07 and a beta of 0.43. The firm has a fifty day moving average of $127.21 and a two-hundred day moving average of $112.77. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $138.28.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a return on equity of 92.21% and a net margin of 36.56%. The business had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVO. UBS Group initiated coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating for the company. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Finally, Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 target price for the company. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $133.60.

Novo Nordisk A/S 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.