Novo Nordisk A/S (NYSE:NVO) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in Novo Nordisk A/S (NYSE:NVO) by 369.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 97,847 shares of the company’s stock after acquiring an additional 76,994 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Novo Nordisk A/S were worth $6,657,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in Novo Nordisk A/S by 8.1% during 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 purchasing an additional 1,165,955 shares in the last quarter. GQG Partners LLC raised its holdings in shares of 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 valued at $1,117,790,000 after buying an additional 5,556,460 shares during the period. Loomis Sayles & Co. L P lifted its stake 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 worth $995,397,000 after acquiring an additional 2,947,771 shares in the last quarter. Folketrygdfondet lifted its stake 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 acquiring an additional 40,313 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in 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 acquiring an additional 123,681 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $69.05 on Friday. The company has a market cap of $308.31 billion, a P/E ratio of 20.43, a PEG ratio of 1.35 and a beta of 0.64. The firm has a fifty day moving average price of $69.96 and a 200 day moving average price of $75.92. 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 has a 12 month low of $57.00 and a 12 month high of $143.69.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter. Sell-side analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVO. Wall Street Zen upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Dbs Bank lowered shares of Novo Nordisk A/S to a “sell” rating in a report on Friday, April 25th. BNP Paribas started coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating for the company. BMO Capital Markets reiterated a “market perform” rating and issued a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Finally, Hsbc Global Res raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Hold” and a consensus price target of $112.00.

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.