Thornburg Investment Management Inc. Sells 38,043 Shares of Novo Nordisk A/S (NYSE:NVO)

Thornburg Investment Management Inc. decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 5.0% in the fourth quarter, Holdings Channel reports. The firm owned 721,148 shares of the company’s stock after selling 38,043 shares during the quarter. Novo Nordisk A/S accounts for about 0.8% of Thornburg Investment Management Inc.’s portfolio, making the stock its 29th biggest position. Thornburg Investment Management Inc.’s holdings in Novo Nordisk A/S were worth $62,033,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NVO. Bank of America Corp DE boosted its stake in shares of Novo Nordisk A/S by 8.1% during the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company’s stock worth $1,332,655,000 after acquiring an additional 1,165,955 shares during the last quarter. GQG Partners LLC boosted its holdings in 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 buying an additional 5,556,460 shares during the period. Loomis Sayles & Co. L P increased its stake in 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 buying an additional 2,947,771 shares in the last quarter. Folketrygdfondet lifted its position in shares of Novo Nordisk A/S by 0.5% in the fourth quarter. Folketrygdfondet now owns 8,903,938 shares of the company’s stock valued at $765,917,000 after acquiring an additional 40,313 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Novo Nordisk A/S by 1.5% in the fourth quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company’s stock worth $715,084,000 after acquiring an additional 123,681 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on NVO. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Guggenheim downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. Dbs Bank lowered Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Finally, BNP Paribas assumed coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $64.35 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average is $67.31 and its two-hundred day moving average is $84.38. Novo Nordisk A/S has a 52 week low of $57.00 and a 52 week high of $148.15. The company has a market capitalization of $288.75 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 0.90 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Company Profile

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.