Kornitzer Capital Management Inc. KS Buys Shares of 41,000 Novo Nordisk A/S (NYSE:NVO)

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Kornitzer Capital Management Inc. KS bought a new stake in Novo Nordisk A/S (NYSE:NVO) in the 3rd quarter, Holdings Channel.com reports. The fund bought 41,000 shares of the company’s stock, valued at approximately $2,120,000.

A number of other large investors have also recently modified their holdings of NVO. Oppenheimer & Co. Inc. lifted its position in Novo Nordisk A/S by 0.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 49,188 shares of the company’s stock worth $2,544,000 after acquiring an additional 201 shares during the last quarter. Pinnacle Bank increased its holdings in shares of Novo Nordisk A/S by 21.7% during the 3rd quarter. Pinnacle Bank now owns 1,140 shares of the company’s stock worth $59,000 after purchasing an additional 203 shares during the period. OmniStar Financial Group Inc. increased its holdings in shares of Novo Nordisk A/S by 0.3% during the 3rd quarter. OmniStar Financial Group Inc. now owns 65,282 shares of the company’s stock worth $3,375,000 after purchasing an additional 204 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Novo Nordisk A/S by 0.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 66,336 shares of the company’s stock worth $3,386,000 after purchasing an additional 219 shares during the period. Finally, Sunbelt Securities Inc. increased its holdings in shares of Novo Nordisk A/S by 1.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 12,959 shares of the company’s stock worth $661,000 after purchasing an additional 238 shares during the period. 7.36% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on NVO shares. Zacks Investment Research upgraded shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating and set a $50.00 price objective on the stock in a report on Monday, July 15th. Jefferies Financial Group downgraded shares of Novo Nordisk A/S from a “hold” rating to an “underperform” rating in a report on Friday, August 30th. Bank of America boosted their price objective on shares of Novo Nordisk A/S from $355.00 to $400.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Citigroup upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 17th. Finally, Pareto Securities upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $159.65.

NYSE NVO traded up $1.50 on Friday, reaching $57.87. The company’s stock had a trading volume of 1,768,123 shares, compared to its average volume of 1,410,802. The firm has a market cap of $135.11 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 2.28 and a beta of 0.61. The business has a 50-day moving average price of $53.15 and a 200 day moving average price of $50.60. Novo Nordisk A/S has a 52 week low of $43.12 and a 52 week high of $57.93. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Friday, November 1st. The company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.55 billion. Novo Nordisk A/S had a net margin of 32.44% and a return on equity of 75.48%. Analysts anticipate that Novo Nordisk A/S will post 2.45 earnings per share for the current fiscal year.

Novo Nordisk A/S Profile

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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