Novo Nordisk A/S (NYSE:NVO) is Saratoga Research & Investment Management’s 8th Largest Position

Saratoga Research & Investment Management reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 783,791 shares of the company’s stock after selling 43,803 shares during the quarter. Novo Nordisk A/S makes up 4.6% of Saratoga Research & Investment Management’s investment portfolio, making the stock its 8th largest position. Saratoga Research & Investment Management’s holdings in Novo Nordisk A/S were worth $100,639,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cravens & Co Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 1.0% during the 1st quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after purchasing an additional 85 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 0.6% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock worth $1,595,000 after purchasing an additional 90 shares during the last quarter. Clarius Group LLC boosted its stake in shares of Novo Nordisk A/S by 0.5% during the 4th quarter. Clarius Group LLC now owns 18,505 shares of the company’s stock worth $1,914,000 after purchasing an additional 93 shares during the last quarter. Tradewinds Capital Management LLC boosted its stake in shares of Novo Nordisk A/S by 2.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 4,955 shares of the company’s stock worth $513,000 after purchasing an additional 95 shares during the last quarter. Finally, Atlas Brown Inc. boosted its stake in shares of Novo Nordisk A/S by 2.5% during the 1st quarter. Atlas Brown Inc. now owns 3,823 shares of the company’s stock worth $491,000 after purchasing an additional 95 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 1.2 %

NYSE NVO traded down $1.75 during mid-day trading on Friday, hitting $142.74. The company’s stock had a trading volume of 2,757,544 shares, compared to its average volume of 3,502,773. Novo Nordisk A/S has a 52-week low of $75.56 and a 52-week high of $148.15. The stock’s fifty day simple moving average is $135.00 and its two-hundred day simple moving average is $123.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The firm has a market capitalization of $640.55 billion, a P/E ratio of 49.22, a price-to-earnings-growth ratio of 1.44 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The firm had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.23 billion. Research analysts expect that Novo Nordisk A/S will post 3.41 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on NVO. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. Argus raised their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. BMO Capital Markets reissued an “outperform” rating and issued a $163.00 target price on shares of Novo Nordisk A/S in a research report on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average target price of $145.67.

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.