Chemung Canal Trust Co. Decreases Stake in Novo Nordisk A/S (NYSE:NVO)

Chemung Canal Trust Co. lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 41.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,224 shares of the company's stock after selling 4,491 shares during the period. Chemung Canal Trust Co.'s holdings in Novo Nordisk A/S were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. GQG Partners LLC boosted its stake in Novo Nordisk A/S by 74.7% during the 4th quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock worth $1,117,790,000 after purchasing an additional 5,556,460 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Novo Nordisk A/S by 34.2% in the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock worth $995,397,000 after acquiring an additional 2,947,771 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Novo Nordisk A/S by 73.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock worth $537,189,000 after acquiring an additional 2,639,693 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $158,657,000. Finally, Clearbridge Investments LLC lifted its holdings in Novo Nordisk A/S by 59.8% during the 4th quarter. Clearbridge Investments LLC now owns 4,283,317 shares of the company's stock worth $368,451,000 after buying an additional 1,602,549 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Trading Up 0.4%

NVO stock opened at $69.63 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. The company's 50-day simple moving average is $70.19 and its 200 day simple moving average is $75.37. Novo Nordisk A/S has a 52 week low of $57.00 and a 52 week high of $143.49. The company has a market capitalization of $310.90 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.35 and a beta of 0.64.

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

Analyst Ratings Changes

A number of research firms recently commented on NVO. BMO Capital Markets reaffirmed a "market perform" rating and issued a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Dbs Bank downgraded shares of Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Guggenheim downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Kepler Capital Markets raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Finally, Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $112.00.

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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