Cerity Partners LLC Grows Stock Position in Novo Nordisk A/S (NYSE:NVO)

Cerity Partners LLC increased its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 22.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 928,213 shares of the company's stock after buying an additional 170,494 shares during the quarter. Cerity Partners LLC's holdings in Novo Nordisk A/S were worth $63,685,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Financial Gravity Asset Management Inc. purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $1,787,000. Capital Insight Partners LLC raised its holdings in shares of Novo Nordisk A/S by 5.9% in the 1st quarter. Capital Insight Partners LLC now owns 55,307 shares of the company's stock worth $3,841,000 after purchasing an additional 3,095 shares during the period. Peddock Capital Advisors LLC raised its holdings in shares of Novo Nordisk A/S by 43.2% in the 1st quarter. Peddock Capital Advisors LLC now owns 11,415 shares of the company's stock worth $793,000 after purchasing an additional 3,445 shares during the period. Leavell Investment Management Inc. raised its holdings in shares of Novo Nordisk A/S by 32.9% in the 1st quarter. Leavell Investment Management Inc. now owns 5,272 shares of the company's stock worth $371,000 after purchasing an additional 1,304 shares during the period. Finally, Quotient Wealth Partners LLC raised its holdings in shares of Novo Nordisk A/S by 4.8% in the 1st quarter. Quotient Wealth Partners LLC now owns 9,415 shares of the company's stock worth $654,000 after purchasing an additional 430 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $68.93 on Friday. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $143.49. The business has a 50 day moving average price of $70.35 and a two-hundred day moving average price of $75.08. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70. The firm has a market cap of $307.77 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.38 and a beta of 0.64.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting analysts' consensus estimates of $0.92. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. The firm had revenue of $11.87 billion during the quarter. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NVO shares. Wall Street Zen upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Dbs Bank downgraded Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. BMO Capital Markets reissued a "market perform" rating and set a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of "Hold" and an average target price of $112.00.

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.

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