Evelyn Partners Asset Management Ltd Lowers Position in Novo Nordisk A/S $NVO

Evelyn Partners Asset Management Ltd trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 69.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,443 shares of the company's stock after selling 82,136 shares during the quarter. Evelyn Partners Asset Management Ltd's holdings in Novo Nordisk A/S were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Loomis Sayles & Co. L P grew its position in Novo Nordisk A/S by 6.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 17,135,384 shares of the company's stock valued at $871,848,000 after buying an additional 969,916 shares during the period. Franklin Resources Inc. boosted its stake in Novo Nordisk A/S by 5.1% in the fourth quarter. Franklin Resources Inc. now owns 14,702,508 shares of the company's stock valued at $748,064,000 after acquiring an additional 717,719 shares during the last quarter. Morgan Stanley boosted its stake in Novo Nordisk A/S by 3.5% in the fourth quarter. Morgan Stanley now owns 12,842,089 shares of the company's stock valued at $653,406,000 after acquiring an additional 428,660 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Novo Nordisk A/S by 99.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company's stock valued at $492,940,000 after acquiring an additional 4,836,285 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $287,660,000. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Up 1.8%

NVO opened at $49.63 on Tuesday. The stock has a market cap of $221.58 billion, a PE ratio of 11.65, a P/E/G ratio of 4.45 and a beta of 0.77. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $71.28. The business's fifty day simple moving average is $46.46 and its 200 day simple moving average is $45.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. The firm had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. As a group, research analysts expect that Novo Nordisk A/S will post 3.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on NVO. Nordea Equity Research raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Friday, June 19th. HSBC reaffirmed a "hold" rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Zacks Research downgraded Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Citigroup reissued a "neutral" rating on shares of Novo Nordisk A/S in a report on Monday, July 20th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Novo Nordisk A/S in a research note on Monday, July 20th. Five research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $65.56.

Novo Nordisk A/S Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.

Want to see what other hedge funds are holding NVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novo Nordisk A/S (NYSE:NVO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.