Cerity Partners LLC Sells 73,991 Shares of Novo Nordisk A/S $NVO

Key Points

• Cerity Partners sold 73,991 shares of Novo Nordisk, an 8.0% reduction, leaving it with 854,222 shares worth about $58.0 million at quarter-end.
• Analyst sentiment is mixed: the consensus rating is "Hold" with a $56 target, based on 1 Strong Buy, 6 Buy, 11 Hold and 3 Sell ratings and several recent upgrades and downgrades.
• In the latest quarter Novo Nordisk reported $1.02 EPS (beating $0.77 est.) and $11.79B revenue (slightly below $11.98B est.); the stock trades near $47.92, with a market cap of $213.96B and a P/E of 13.93.

Cerity Partners LLC decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 854,222 shares of the company's stock after selling 73,991 shares during the quarter. Cerity Partners LLC's holdings in Novo Nordisk A/S were worth $58,009,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. First Hawaiian Bank lifted its holdings in shares of Novo Nordisk A/S by 0.6% during the first quarter. First Hawaiian Bank now owns 22,401 shares of the company's stock worth $1,556,000 after buying an additional 142 shares during the last quarter. Anchor Investment Management LLC increased its position in Novo Nordisk A/S by 1.1% during the first quarter. Anchor Investment Management LLC now owns 13,597 shares of the company's stock worth $944,000 after acquiring an additional 150 shares during the period. Werba Rubin Papier Wealth Management raised its stake in Novo Nordisk A/S by 4.1% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 4,378 shares of the company's stock valued at $302,000 after purchasing an additional 173 shares during the last quarter. Atwood & Palmer Inc. boosted its holdings in Novo Nordisk A/S by 31.8% in the 2nd quarter. Atwood & Palmer Inc. now owns 737 shares of the company's stock valued at $51,000 after purchasing an additional 178 shares during the period. Finally, Copeland Capital Management LLC grew its position in Novo Nordisk A/S by 47.3% in the 2nd quarter. Copeland Capital Management LLC now owns 579 shares of the company's stock worth $40,000 after purchasing an additional 186 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NVO. BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Sanford C. Bernstein raised Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 9th. Zacks Research downgraded Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research report on Wednesday, December 3rd. Jefferies Financial Group began coverage on Novo Nordisk A/S in a report on Monday, October 27th. They set an "underperform" rating on the stock. Finally, BNP Paribas Exane upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price for the company in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of "Hold" and a consensus target price of $56.00.

Novo Nordisk A/S Stock Down 0.1%

NYSE NVO opened at $47.92 on Monday. Novo Nordisk A/S has a 1-year low of $43.08 and a 1-year high of $112.52. The company has a market capitalization of $213.96 billion, a price-to-earnings ratio of 13.93 and a beta of 0.67. The stock's 50 day moving average is $51.78 and its two-hundred day moving average is $58.99. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.25. The business had revenue of $11.79 billion during the quarter, compared to analysts' expectations of $11.98 billion. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%. Equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S 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.

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