Clare Market Investments LLC Lowers Stake in Novo Nordisk A/S (NYSE:NVO)

Clare Market Investments LLC cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 26.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,748 shares of the company's stock after selling 3,782 shares during the period. Clare Market Investments LLC's holdings in Novo Nordisk A/S were worth $746,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Revolve Wealth Partners LLC boosted its position in shares of Novo Nordisk A/S by 8.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock valued at $214,000 after purchasing an additional 200 shares in the last quarter. Fourpath Capital Management LLC grew its position in shares of Novo Nordisk A/S by 10.2% in the 4th quarter. Fourpath Capital Management LLC now owns 3,306 shares of the company's stock worth $284,000 after buying an additional 306 shares during the period. abrdn plc lifted its position in Novo Nordisk A/S by 12.0% during the 4th quarter. abrdn plc now owns 260,169 shares of the company's stock valued at $22,304,000 after acquiring an additional 27,784 shares during the period. Hager Investment Management Services LLC bought a new stake in Novo Nordisk A/S during the fourth quarter worth about $46,000. Finally, Lockheed Martin Investment Management Co. grew its holdings in Novo Nordisk A/S by 286.9% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 72,550 shares of the company's stock worth $6,241,000 after purchasing an additional 53,800 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded up $2.05 during mid-day trading on Friday, reaching $74.70. 9,535,540 shares of the stock traded hands, compared to its average volume of 6,881,021. Novo Nordisk A/S has a 12-month low of $57.00 and a 12-month high of $148.15. The business's 50-day moving average is $65.73 and its 200-day moving average is $80.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The stock has a market capitalization of $335.22 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 0.90 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.92. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. The company had revenue of $11.87 billion for the quarter. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen raised Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. BMO Capital Markets reiterated a "market perform" rating and issued a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of "Hold" and an average price target of $128.00.

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.