Formidable Asset Management LLC Boosts Stake in Novo Nordisk A/S (NYSE:NVO)

Formidable Asset Management LLC lifted its position in Novo Nordisk A/S (NYSE:NVO) by 116.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,576 shares of the company’s stock after purchasing an additional 7,857 shares during the quarter. Formidable Asset Management LLC’s holdings in Novo Nordisk A/S were worth $1,254,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVO. GQG Partners LLC boosted 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 worth $1,117,790,000 after purchasing an additional 5,556,460 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Novo Nordisk A/S in the 4th quarter worth about $404,910,000. Loomis Sayles & Co. L P boosted its holdings in shares of Novo Nordisk A/S by 34.2% in the 4th 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 in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Novo Nordisk A/S by 73.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company’s stock worth $537,189,000 after purchasing an additional 2,639,693 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of Novo Nordisk A/S in the 4th quarter worth about $158,657,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of recent research reports. Hsbc Global Res raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Wall Street Zen raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. Guggenheim lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating for the company. Finally, BNP Paribas initiated coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.

Novo Nordisk A/S Trading Down 1.3%

NVO opened at $67.26 on Friday. The business has a 50 day simple moving average of $66.31 and a two-hundred day simple moving average of $83.07. The firm has a market capitalization of $301.83 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 0.90 and a beta of 0.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. Novo Nordisk A/S has a one year low of $57.00 and a one year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

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.