Essex Financial Services Inc. Reduces Holdings in Novo Nordisk A/S (NYSE:NVO)

Essex Financial Services Inc. trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 38.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,945 shares of the company's stock after selling 4,875 shares during the quarter. Essex Financial Services Inc.'s holdings in Novo Nordisk A/S were worth $552,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of Novo Nordisk A/S by 58.5% during the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company's stock worth $5,410,000 after purchasing an additional 23,223 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of Novo Nordisk A/S by 18.2% during the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock worth $1,440,000 after purchasing an additional 3,200 shares in the last quarter. Stanley Laman Group Ltd. purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $390,000. Dover Advisors LLC purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $505,000. Finally, SVB Wealth LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth approximately $1,250,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $69.06 on Tuesday. The stock has a market cap of $308.35 billion, a PE ratio of 20.43, a P/E/G ratio of 1.22 and a beta of 0.66. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. Novo Nordisk A/S has a twelve month low of $57.00 and a twelve month high of $145.99. The stock has a fifty day simple moving average of $69.32 and a 200-day simple moving average of $76.55.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on NVO shares. Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Wall Street Zen upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Stifel Nicolaus cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Kepler Capital Markets upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Finally, Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $112.00.

About Novo Nordisk A/S

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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