Assetmark Inc. Reduces Holdings in Novo Nordisk A/S (NYSE:NVO)

Key Points

• Assetmark Inc. sold 21,507 shares of Novo Nordisk A/S, reducing its stake by 4.8%, leaving it with 427,623 shares valued at approximately $29.69 million.
• Several large investors, including Bank of America Corp DE and Nuveen Asset Management LLC, have recently increased their stakes in Novo Nordisk, with the overall institutional ownership standing at 11.54%.
• Novo Nordisk A/S reported earnings of $0.92 per share, meeting analysts' expectations, while the stock is currently rated as "Hold" with an average target price of $112.00 among analysts.

Assetmark Inc. reduced its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 427,623 shares of the company's stock after selling 21,507 shares during the quarter. Assetmark Inc.'s holdings in Novo Nordisk A/S were worth $29,694,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. BIP Wealth LLC lifted its position in Novo Nordisk A/S by 3.9% in the 4th quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock valued at $313,000 after acquiring an additional 138 shares in the last quarter. Xponance Inc. lifted its position in Novo Nordisk A/S by 4.9% during the 4th quarter. Xponance Inc. now owns 3,156 shares of the company's stock worth $271,000 after buying an additional 146 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in Novo Nordisk A/S by 3.6% during the 1st quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after buying an additional 173 shares in the last quarter. LRI Investments LLC lifted its position in Novo Nordisk A/S by 1.4% during the 4th quarter. LRI Investments LLC now owns 13,060 shares of the company's stock worth $1,123,000 after buying an additional 176 shares in the last quarter. Finally, Beacon Financial Group lifted its position in Novo Nordisk A/S by 6.5% during the 1st quarter. Beacon Financial Group now owns 2,884 shares of the company's stock worth $200,000 after buying an additional 177 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Up 1.3%

Novo Nordisk A/S stock traded up $0.94 during midday trading on Friday, hitting $71.67. 7,345,265 shares of the stock were exchanged, compared to its average volume of 7,231,007. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $139.74. The stock has a market capitalization of $320.00 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 1.38 and a beta of 0.64. The business's 50-day moving average price is $70.67 and its 200-day moving average price is $73.63. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. On average, research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BMO Capital Markets reissued a "market perform" rating and set a $64.00 price target (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Guggenheim cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating on the stock. Finally, Wall Street Zen raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of "Hold" and an average price target of $112.00.

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.