Equitable Trust Co. Sells 15,504 Shares of Novo Nordisk A/S (NYSE:NVO)

Key Points

• Equitable Trust Co. has reduced its stake in Novo Nordisk A/S by 18.8%, selling 15,504 shares and now holding 67,127 shares valued at $4.66 million.
• The stock price of Novo Nordisk A/S has increased by 1.0% to $70.74, with a market capitalization of $315.84 billion.
• Several institutional investors have been active with Novo Nordisk, with 11.54% of its stock owned by institutional investors, showcasing a mixed sentiment among analysts regarding the stock's future performance.

Equitable Trust Co. decreased its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 18.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,127 shares of the company's stock after selling 15,504 shares during the quarter. Equitable Trust Co.'s holdings in Novo Nordisk A/S were worth $4,661,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Revolve Wealth Partners LLC raised 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 worth $214,000 after acquiring an additional 200 shares during the last quarter. Xponance Inc. raised its position in shares of Novo Nordisk A/S by 4.9% during the fourth quarter. Xponance Inc. now owns 3,156 shares of the company's stock worth $271,000 after acquiring an additional 146 shares during the last quarter. Congress Wealth Management LLC DE raised its position in shares of Novo Nordisk A/S by 7.8% during the fourth quarter. Congress Wealth Management LLC DE now owns 18,079 shares of the company's stock worth $1,555,000 after acquiring an additional 1,303 shares during the last quarter. Graney & King LLC bought a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $52,000. Finally, Sava Infond d.o.o. bought a new stake in Novo Nordisk A/S in the fourth quarter valued at about $1,591,000. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Up 1.0%

NYSE:NVO opened at $70.74 on Friday. The firm has a market capitalization of $315.84 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.35 and a beta of 0.64. Novo Nordisk A/S has a twelve month low of $57.00 and a twelve month high of $139.74. The stock's 50 day moving average price is $70.52 and its two-hundred day moving average price is $73.88. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NVO. BNP Paribas initiated coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating for the company. Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Wall Street Zen raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Finally, Dbs Bank cut Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus 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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