Novo Nordisk A/S $NVO Shares Sold by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group reduced its stake in Novo Nordisk by 9.7% in the first quarter, selling 45,308 shares and leaving it with 423,561 shares valued at about $15.6 million.
• Novo Nordisk shares were up 1.2% to $48.76, with the stock trading well below its 52-week high of $71.79 and near its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: recent downgrades helped keep the consensus rating at Hold, with 5 Buy ratings, 16 Hold ratings, and 2 Sell ratings, plus an average target price of $65.56.

PNC Financial Services Group Inc. lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 9.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 423,561 shares of the company's stock after selling 45,308 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Novo Nordisk A/S were worth $15,566,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC lifted its stake 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 valued at $214,000 after buying an additional 200 shares during the period. AQR Capital Management LLC grew its stake in Novo Nordisk A/S by 21.0% in the 1st quarter. AQR Capital Management LLC now owns 62,099 shares of the company's stock worth $4,312,000 after acquiring an additional 10,758 shares during the period. Sivia Capital Partners LLC raised its holdings in Novo Nordisk A/S by 18.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 10,320 shares of the company's stock valued at $712,000 after acquiring an additional 1,587 shares during the last quarter. Invesco Ltd. raised its holdings in Novo Nordisk A/S by 26.3% in the 2nd quarter. Invesco Ltd. now owns 419,691 shares of the company's stock valued at $28,967,000 after acquiring an additional 87,467 shares during the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Novo Nordisk A/S during the 2nd quarter worth $314,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Stock Up 1.2%

Shares of NYSE NVO opened at $48.76 on Friday. Novo Nordisk A/S has a 52-week low of $35.12 and a 52-week high of $71.79. The firm has a fifty day moving average of $46.36 and a 200-day moving average of $45.74. The stock has a market capitalization of $217.71 billion, a PE ratio of 11.45, 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 (NYSE:NVO - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share for the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%.The business had revenue of $10.85 billion for the quarter. On average, analysts anticipate that Novo Nordisk A/S will post 3.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Zacks Research cut Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Citigroup reiterated a "neutral" rating on shares of Novo Nordisk A/S in a research note on Monday, July 20th. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. HSBC reissued a "hold" rating on shares of Novo Nordisk A/S in a research note on Monday, July 6th. Finally, Nordea Equity Research raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Friday, June 19th. Five analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $65.56.

Novo Nordisk A/S Company 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.

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