59,811 Shares in Novo Nordisk A/S $NVO Acquired by Eastover Investment Advisors LLC

Eastover Investment Advisors LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO) during the third quarter, Holdings Channel.com reports. The fund bought 59,811 shares of the company’s stock, valued at approximately $3,319,000. Novo Nordisk A/S accounts for approximately 1.4% of Eastover Investment Advisors LLC’s holdings, making the stock its 27th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Jennison Associates LLC increased its stake in Novo Nordisk A/S by 0.3% in the second quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock valued at $1,303,466,000 after acquiring an additional 63,341 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of Novo Nordisk A/S by 1.5% in the 2nd quarter. Loomis Sayles & Co. L P now owns 12,576,031 shares of the company’s stock worth $867,998,000 after purchasing an additional 187,789 shares in the last quarter. Kingstone Capital Partners Texas LLC increased its position in shares of Novo Nordisk A/S by 301,443.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after purchasing an additional 10,001,898 shares during the last quarter. Sustainable Growth Advisers LP raised its holdings in shares of Novo Nordisk A/S by 11.7% during the 2nd quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock valued at $427,416,000 after buying an additional 649,390 shares in the last quarter. Finally, State Street Corp lifted its position in Novo Nordisk A/S by 0.8% in the 2nd quarter. State Street Corp now owns 6,047,683 shares of the company’s stock worth $418,231,000 after buying an additional 47,430 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Zacks Research downgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 3rd. Hsbc Global Res cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Morgan Stanley reissued an “underweight” rating and issued a $42.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, December 3rd. Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. Finally, TD Cowen decreased their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $53.33.

Novo Nordisk A/S Trading Down 2.9%

Shares of NVO opened at $48.93 on Wednesday. The stock has a market capitalization of $218.49 billion, a P/E ratio of 14.22 and a beta of 0.67. Novo Nordisk A/S has a twelve month low of $43.08 and a twelve month high of $109.04. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $50.47 and a two-hundred day simple moving average of $58.00.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.77 by $0.25. The firm had revenue of $11.79 billion during the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. On average, research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS 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.