Looking ahead to fiscal 2017, Novo Nordisk raised the low end of its outlook for sales growth measured in local currencies.
Several other large investors have also recently bought and sold shares of the company. Scout Investments, Inc. now holds 542,151 shares with a value of $23,253,000. Advisory Services Network LLC purchased a new stake in shares of Novo Nordisk A/S during the first quarter valued at $127,000.
On December 6 the company was upgraded from "Sell" to "Buy" by UBS. Cim LLC now owns 196,121 shares of the company's stock valued at $6,723,000 after buying an additional 1,045 shares during the last quarter. Dynamic Advisors Solutions LLC boosted its stake in shares of Novo Nordisk A/S by 0.9% in the first quarter. Seven Eight Capital Llc acquired 15,870 shares as Novo (NVO)'s stock rose 15.20%. Gardiner Nancy B's holdings in Novo Nordisk A/S were worth $242,000 at the end of the most recent reporting period.
ILLEGAL ACTIVITY WARNING: This piece was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. The stock of Novo Nordisk A S (ADR) (NYSE:NVO) earned "Hold" rating by DNB Markets on Monday, October 31. Fisher Asset Management LLC now owns 11,690,997 shares of the company's stock worth $501,427,000 after buying an additional 1,331,992 shares during the last quarter. HSBC Holdings plc cut shares of Novo Nordisk A/S from a "hold" rating to a "reduce" rating in a report on Friday, April 7th. The group's total suite of insulin sales rose 6% from the first half of a year ago to Dkk 32.7 billion, the company said.
(NYSE:NVO) shares saw heavy trading volume with 2,370K shares changing hands in the last trading session. Morgan Stanley downgraded the shares of NVO in report on Thursday, September 1 to "Equal-Weight" rating. The legal version of this news story can be accessed at https://transcriptdaily.com/2017/08/09/palisade-capital-management-llc-nj-increases-position-in-novo-nordisk-as-nysenvo.html.
The company's P/E ratio is 17.20 and the market cap of the company is 102.70B. For the quarter ending Dec-17, 1 analyst has a mean sales target of 4,833.08 million whilst for the year ending Dec-17, 2 analysts have a mean target of 17,595.70 million. Shares last traded at $41.15 just a bit lower than the 50 day moving average of $42.76 and a tad higher than the 200 day moving average of $38.53.
Diabetes and obesity care sales were up 8% in local currencies for the quarter, at 23.77 billion kroner, with Victoza (liraglutide) earning the company 5.78 billion kroner, 15% more, and NovoRapid's (insulin aspart) revenue up by 3% at 5.09 billion kroner. The stock now has a consensus rating of "Hold" and a consensus price target of $53.00.
The company has come under pressure in the all-important USA market as the pharmacy benefit managers who administer drug programmes for employers and health plans demand ever bigger discounts for insulin drugs. The Firm operates through two business divisions: diabetes and obesity care, and biopharmaceuticals. The Company's diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.