JLB & Associates Inc. increased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,322 shares of the company’s stock after acquiring an additional 1,578 shares during the period. Novo Nordisk A/S comprises approximately 2.0% of JLB & Associates Inc.’s holdings, making the stock its 20th largest holding. JLB & Associates Inc.’s holdings in Novo Nordisk A/S were worth $10,714,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans acquired a new stake in shares of Novo Nordisk A/S in the second quarter valued at $47,508,000. Stifel Financial Corp increased its position in Novo Nordisk A/S by 85.4% in the 2nd quarter. Stifel Financial Corp now owns 764,835 shares of the company’s stock valued at $50,080,000 after acquiring an additional 352,407 shares in the last quarter. Capital International Investors raised its stake in shares of Novo Nordisk A/S by 14.9% in the first quarter. Capital International Investors now owns 2,176,356 shares of the company’s stock worth $131,017,000 after acquiring an additional 281,520 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Novo Nordisk A/S by 220.7% during the second quarter. Two Sigma Advisers LP now owns 239,900 shares of the company’s stock worth $15,709,000 after purchasing an additional 165,100 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 1.0% during the second quarter. Fisher Asset Management LLC now owns 15,482,832 shares of the company’s stock worth $1,013,816,000 after purchasing an additional 157,777 shares in the last quarter. Hedge funds and other institutional investors own 6.08% of the company’s stock.
Several research analysts recently weighed in on the stock. Bank of America cut shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Monday, July 6th. BofA Securities downgraded Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Monday, July 6th. Berenberg Bank began coverage on Novo Nordisk A/S in a report on Tuesday, September 29th. They issued a “hold” rating on the stock. UBS Group reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research report on Tuesday, August 18th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Novo Nordisk A/S presently has an average rating of “Hold” and a consensus target price of $72.00.
Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. Novo Nordisk A/S had a return on equity of 73.42% and a net margin of 32.73%. The company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.49 billion. On average, equities research analysts forecast that Novo Nordisk A/S will post 2.68 EPS for the current fiscal year.
About Novo Nordisk A/S
Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.
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