Mission Wealth Management LP Raises Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Mission Wealth Management LP increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 11.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,972 shares of the company’s stock after purchasing an additional 423 shares during the quarter. Mission Wealth Management LP’s holdings in Novo Nordisk A/S were worth $276,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC raised its stake in Novo Nordisk A/S by 1.0% in the second quarter. Fisher Asset Management LLC now owns 15,482,832 shares of the company’s stock valued at $1,013,816,000 after buying an additional 157,777 shares during the last quarter. Everett Harris & Co. CA raised its stake in Novo Nordisk A/S by 1.2% in the second quarter. Everett Harris & Co. CA now owns 3,192,880 shares of the company’s stock valued at $209,070,000 after buying an additional 37,168 shares during the last quarter. Capital International Investors raised its stake in 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 valued at $131,017,000 after buying an additional 281,520 shares during the last quarter. Clearbridge Investments LLC raised its stake in Novo Nordisk A/S by 7.3% in the first quarter. Clearbridge Investments LLC now owns 2,162,634 shares of the company’s stock valued at $130,191,000 after buying an additional 146,914 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Novo Nordisk A/S by 3.4% in the second quarter. Envestnet Asset Management Inc. now owns 1,165,537 shares of the company’s stock valued at $76,319,000 after buying an additional 38,756 shares during the last quarter. Institutional investors own 6.08% of the company’s stock.

Several brokerages have recently issued reports on NVO. BofA Securities cut Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Monday, July 6th. Berenberg Bank began coverage on Novo Nordisk A/S in a research note on Tuesday, September 29th. They issued a “hold” rating for the company. Morgan Stanley restated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Thursday. Bank of America cut Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Monday, July 6th. Finally, UBS Group restated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Tuesday, August 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $72.00.

Novo Nordisk A/S stock opened at $71.02 on Friday. The firm has a market cap of $167.24 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.90 and a beta of 0.37. Novo Nordisk A/S has a 52 week low of $49.24 and a 52 week high of $73.81. The business’s 50-day moving average price is $68.32 and its 200 day moving average price is $65.51. The company has a quick ratio of 0.83, a current ratio of 1.09 and a debt-to-equity ratio of 0.05.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Thursday, August 6th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.64 by $0.03. The firm had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.49 billion. Novo Nordisk A/S had a return on equity of 73.42% and a net margin of 32.73%. Equities analysts expect that Novo Nordisk A/S will post 2.68 EPS for the current 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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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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