756,509 Shares in Novo Nordisk A/S $NVO Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 756,509 shares of the company’s stock, valued at approximately $27,802,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quotient Wealth Partners LLC raised its stake in shares of Novo Nordisk A/S by 2.0% during the fourth quarter. Quotient Wealth Partners LLC now owns 9,091 shares of the company’s stock valued at $463,000 after acquiring an additional 177 shares during the last quarter. Certuity LLC grew its stake in shares of Novo Nordisk A/S by 3.6% in the fourth quarter. Certuity LLC now owns 5,052 shares of the company’s stock worth $257,000 after purchasing an additional 177 shares during the last quarter. Oakworth Capital Inc. increased its holdings in Novo Nordisk A/S by 41.6% in the fourth quarter. Oakworth Capital Inc. now owns 619 shares of the company’s stock valued at $31,000 after purchasing an additional 182 shares during the period. True North Advisors LLC increased its holdings in Novo Nordisk A/S by 3.9% in the fourth quarter. True North Advisors LLC now owns 5,305 shares of the company’s stock valued at $270,000 after purchasing an additional 199 shares during the period. Finally, Asio Capital LLC raised its position in Novo Nordisk A/S by 3.9% during the 4th quarter. Asio Capital LLC now owns 5,386 shares of the company’s stock worth $274,000 after purchasing an additional 200 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on NVO shares. HSBC reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, July 6th. Zacks Research cut Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novo Nordisk A/S in a research note on Monday. Finally, Citigroup reiterated a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday. Five investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $65.56.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $48.76 on Friday. Novo Nordisk A/S has a twelve month low of $35.12 and a twelve month high of $71.79. The firm has a fifty day simple moving average of $46.36 and a 200 day simple moving average of $45.74. The company has a market capitalization of $217.71 billion, a PE ratio of 11.45, a P/E/G ratio of 4.39 and a beta of 0.77. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. The business had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.39 EPS for the current year.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.