Channel Wealth LLC raised its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 15.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,353 shares of the company's stock after acquiring an additional 7,756 shares during the period. Novo Nordisk A/S makes up 2.2% of Channel Wealth LLC's investment portfolio, making the stock its 10th biggest holding. Channel Wealth LLC's holdings in Novo Nordisk A/S were worth $6,829,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in Novo Nordisk A/S by 10.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company's stock worth $1,102,857,000 after purchasing an additional 823,036 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Novo Nordisk A/S by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company's stock worth $607,242,000 after purchasing an additional 58,935 shares during the period. GQG Partners LLC raised its stake in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company's stock worth $466,485,000 after buying an additional 3,151,584 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Novo Nordisk A/S by 1.0% in the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company's stock valued at $419,939,000 after buying an additional 36,223 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in Novo Nordisk A/S by 7.8% during the first quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company's stock worth $304,697,000 after acquiring an additional 172,003 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the company. StockNews.com raised Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a report on Friday, November 1st. Cantor Fitzgerald reissued an "overweight" rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday. Finally, BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S has an average rating of "Buy" and an average price target of $144.50.
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Shares of Novo Nordisk A/S stock opened at $107.62 on Friday. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The business has a 50 day moving average price of $122.65 and a 200 day moving average price of $130.59. The company has a market capitalization of $482.95 billion, a P/E ratio of 36.86, a P/E/G ratio of 1.43 and a beta of 0.42.
Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). The company had revenue of $9.82 billion during the quarter, compared to analysts' expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.
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.
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