Bessemer Group Inc. Has $9.42 Million Holdings in Novo Nordisk A/S (NYSE:NVO)

Bessemer Group Inc. lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 9.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 73,344 shares of the company’s stock after selling 7,706 shares during the quarter. Bessemer Group Inc.’s holdings in Novo Nordisk A/S were worth $9,418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Folketrygdfondet lifted its position in shares of Novo Nordisk A/S by 1.4% during the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock worth $1,124,275,000 after purchasing an additional 124,770 shares during the last quarter. Capital International Investors lifted its position in shares of Novo Nordisk A/S by 22.3% during the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after purchasing an additional 1,297,536 shares during the last quarter. Raymond James & Associates lifted its position in shares of Novo Nordisk A/S by 12.1% during the 1st quarter. Raymond James & Associates now owns 3,143,731 shares of the company’s stock worth $403,655,000 after purchasing an additional 340,549 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of Novo Nordisk A/S by 1.8% during the 4th quarter. Natixis Advisors L.P. now owns 3,052,406 shares of the company’s stock worth $315,770,000 after purchasing an additional 55,333 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Novo Nordisk A/S by 4.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,314,261 shares of the company’s stock worth $239,410,000 after purchasing an additional 89,152 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $163.00 price target on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Argus upped their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, July 1st. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Price Performance

Shares of NVO stock traded down $3.45 during trading hours on Thursday, hitting $128.15. The company had a trading volume of 2,308,605 shares, compared to its average volume of 4,412,204. Novo Nordisk A/S has a 12 month low of $77.96 and a 12 month high of $148.15. The firm has a market capitalization of $575.08 billion, a price-to-earnings ratio of 45.38, a PEG ratio of 1.34 and a beta of 0.41. The firm’s fifty day moving average is $138.89 and its 200 day moving average is $128.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The company had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.23 billion. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.38 EPS for the current fiscal 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.