Rock Springs Capital Management LP Takes Position in Novo Nordisk A/S $NVO

Rock Springs Capital Management LP acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 90,000 shares of the company’s stock, valued at approximately $3,308,000.

Several other hedge funds have also modified their holdings of the stock. Godfrey Financial Associates Inc. acquired a new position in Novo Nordisk A/S during the fourth quarter worth approximately $25,000. Scarborough Advisors LLC purchased a new position in Novo Nordisk A/S during the first quarter worth approximately $26,000. WealthCollab LLC boosted its holdings in shares of Novo Nordisk A/S by 93.5% in the 4th quarter. WealthCollab LLC now owns 538 shares of the company’s stock valued at $27,000 after purchasing an additional 260 shares during the last quarter. American National Bank & Trust acquired a new position in shares of Novo Nordisk A/S in the 4th quarter valued at $28,000. Finally, Maseco LLP purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at $29,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup restated a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday, July 20th. Zacks Research downgraded Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research report 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. Nordea Equity Research upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Friday, June 19th. Finally, HSBC restated a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, July 6th. Five analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $65.56.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $49.63 on Tuesday. Novo Nordisk A/S has a 52-week low of $35.12 and a 52-week high of $71.28. The firm has a fifty day moving average of $46.46 and a 200-day moving average of $45.63. The firm has a market capitalization of $221.58 billion, a P/E ratio of 11.65, a PEG ratio of 4.45 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 issued its earnings results on Tuesday, March 31st. The company reported $1.03 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%. As a group, analysts predict 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.