Jennison Associates LLC Sells 1,122,807 Shares of Novo Nordisk A/S (NYSE:NVO)

Jennison Associates LLC lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,822,002 shares of the company's stock after selling 1,122,807 shares during the quarter. Novo Nordisk A/S comprises about 0.9% of Jennison Associates LLC's holdings, making the stock its 27th largest position. Jennison Associates LLC owned 0.42% of Novo Nordisk A/S worth $1,307,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of NVO. Saturna Capital Corp grew its position in Novo Nordisk A/S by 1.6% in the first quarter. Saturna Capital Corp now owns 2,144,759 shares of the company's stock valued at $148,932,000 after acquiring an additional 32,811 shares in the last quarter. Pecaut & CO. bought a new stake in Novo Nordisk A/S during the first quarter valued at $1,499,000. Retirement Planning Co of New England Inc. raised its stake in Novo Nordisk A/S by 30.2% during the first quarter. Retirement Planning Co of New England Inc. now owns 13,085 shares of the company's stock worth $909,000 after acquiring an additional 3,036 shares during the period. Kingsview Wealth Management LLC raised its position in shares of Novo Nordisk A/S by 9.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 5,404 shares of the company's stock worth $375,000 after purchasing an additional 461 shares during the period. Finally, Bailard Inc. lifted its stake in Novo Nordisk A/S by 49.3% in the first quarter. Bailard Inc. now owns 12,968 shares of the company's stock valued at $900,000 after buying an additional 4,282 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $0.97 during mid-day trading on Friday, hitting $64.32. The company had a trading volume of 8,032,293 shares, compared to its average volume of 7,363,987. Novo Nordisk A/S has a 12 month low of $57.00 and a 12 month high of $139.74. The firm has a market cap of $287.19 billion, a P/E ratio of 19.03, a PEG ratio of 1.26 and a beta of 0.64. The business's 50-day simple moving average is $70.37 and its 200-day simple moving average is $74.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NVO shares. Guggenheim lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. BNP Paribas began coverage on shares of Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating for the company. BMO Capital Markets restated a "market perform" rating and set a $64.00 price target (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Dbs Bank lowered shares of Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Finally, Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of "Hold" and an average price target 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.