Foster Group Inc. Acquires New Stake in Novo Nordisk A/S (NYSE:NVO)

Foster Group Inc. bought a new position in Novo Nordisk A/S (NYSE:NVO) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,135 shares of the company’s stock, valued at approximately $274,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Morgan Stanley increased its holdings in shares of Novo Nordisk A/S by 96.5% in the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after purchasing an additional 4,526,199 shares in the last quarter. Folketrygdfondet increased its holdings in shares of Novo Nordisk A/S by 2.7% in the 4th quarter. Folketrygdfondet now owns 8,631,264 shares of the company’s stock worth $892,904,000 after purchasing an additional 225,822 shares in the last quarter. Capital International Investors increased its holdings in shares of Novo Nordisk A/S by 22.3% in 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 in the last quarter. Royal Bank of Canada increased its holdings in shares of Novo Nordisk A/S by 109.2% in the 3rd quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock worth $331,300,000 after purchasing an additional 1,901,429 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Novo Nordisk A/S by 110.4% in the third quarter. Northern Trust Corp now owns 3,585,407 shares of the company’s stock worth $326,057,000 after acquiring an additional 1,881,264 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $140.99 on Friday. The stock’s 50-day simple moving average is $132.60 and its 200-day simple moving average is $121.44. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $144.50. The company has a market capitalization of $632.70 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 1.40 and a beta of 0.41. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.77 by $0.06. The business had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. As a group, analysts expect that Novo Nordisk A/S will post 3.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NVO has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price objective for the company. Argus lifted their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S 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.