TimesSquare Capital Management LLC Acquires 800 Shares of Novo Nordisk A/S (NYSE:NVO)

TimesSquare Capital Management LLC increased its holdings in Novo Nordisk A/S (NYSE:NVO) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,310 shares of the company’s stock after buying an additional 800 shares during the period. TimesSquare Capital Management LLC’s holdings in Novo Nordisk A/S were worth $860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Arlington Capital Management Inc. acquired a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $985,000. Moser Wealth Advisors LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at $573,000. Everpar Advisors LLC acquired a new position in shares of Novo Nordisk A/S in the 4th quarter valued at $634,000. Gryphon Financial Partners LLC purchased a new position in Novo Nordisk A/S in the 4th quarter worth $237,000. Finally, Patrick M Sweeney & Associates Inc. acquired a new stake in Novo Nordisk A/S during the 4th quarter worth about $631,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NVO. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They issued an “outperform” rating and a $163.00 price objective for the company. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Finally, UBS Group began coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.60.

Novo Nordisk A/S Stock Performance

NVO traded up $1.94 on Thursday, reaching $128.63. The stock had a trading volume of 2,373,359 shares, compared to its average volume of 4,805,638. The business’s 50-day moving average price is $127.43 and its two-hundred day moving average price is $113.60. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $138.28. The company has a market cap of $577.23 billion, a P/E ratio of 44.37, a price-to-earnings-growth ratio of 1.93 and a beta of 0.43.

About Novo Nordisk A/S

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.