Cumberland Partners Ltd Sells 25,000 Shares of Novo Nordisk A/S (NYSE:NVO)

Key Points

• Cumberland Partners Ltd has significantly reduced its stake in Novo Nordisk A/S by 84.2%, selling 25,000 shares and retaining 4,679 shares valued at approximately $325,000.
• Novo Nordisk has reported earnings per share of $0.92, matching analyst expectations, with a revenue of $11.87 billion in the last quarter.
• Recent analyst ratings for Novo Nordisk include a shift from "strong-buy" to "hold," reflecting a more cautious outlook as two analysts recommend a "sell" rating.

Cumberland Partners Ltd reduced its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 84.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,679 shares of the company's stock after selling 25,000 shares during the period. Cumberland Partners Ltd's holdings in Novo Nordisk A/S were worth $325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BIP Wealth LLC increased its holdings 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 worth $313,000 after acquiring an additional 138 shares in the last quarter. Xponance Inc. increased its holdings in Novo Nordisk A/S by 5.0% in the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock worth $230,000 after acquiring an additional 158 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in Novo Nordisk A/S by 3.6% in the 1st quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after acquiring an additional 173 shares in the last quarter. LRI Investments LLC increased its holdings in Novo Nordisk A/S by 1.4% in the 4th quarter. LRI Investments LLC now owns 13,060 shares of the company's stock worth $1,123,000 after acquiring an additional 176 shares in the last quarter. Finally, Beacon Financial Group increased its holdings in Novo Nordisk A/S by 6.5% in the 1st quarter. Beacon Financial Group now owns 2,884 shares of the company's stock worth $200,000 after acquiring an additional 177 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Up 2.5%

Shares of NVO opened at $48.23 on Friday. Novo Nordisk A/S has a 52-week low of $46.90 and a 52-week high of $139.74. 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's fifty day moving average is $69.26 and its two-hundred day moving average is $72.66. The stock has a market cap of $215.35 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.44 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The company 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%. Research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NVO has been the subject of several recent analyst reports. BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating for the company. Hsbc Global Res lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday. Finally, Dbs Bank cut shares of Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $93.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.