Bar Harbor Wealth Management Sells 18,182 Shares of Novo Nordisk A/S (NYSE:NVO)

Bar Harbor Wealth Management trimmed its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 23.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,817 shares of the company's stock after selling 18,182 shares during the period. Bar Harbor Wealth Management's holdings in Novo Nordisk A/S were worth $4,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVO. Revolve Wealth Partners LLC lifted its stake in shares of Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after buying an additional 200 shares during the last quarter. Savant Capital LLC raised its holdings in Novo Nordisk A/S by 13.3% in the 4th quarter. Savant Capital LLC now owns 13,959 shares of the company's stock worth $1,201,000 after acquiring an additional 1,640 shares during the period. Focus Financial Network Inc. raised its holdings in Novo Nordisk A/S by 9.2% in the 4th quarter. Focus Financial Network Inc. now owns 8,870 shares of the company's stock worth $763,000 after acquiring an additional 750 shares during the period. Quent Capital LLC bought a new stake in Novo Nordisk A/S during the fourth quarter valued at about $62,000. Finally, Portfolio Design Labs LLC bought a new stake in Novo Nordisk A/S during the fourth quarter valued at about $208,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $1.15 during trading hours on Friday, reaching $79.90. The stock had a trading volume of 7,465,072 shares, compared to its average volume of 7,042,462. The company has a market cap of $358.57 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 0.90 and a beta of 0.66. Novo Nordisk A/S has a twelve month low of $57.00 and a twelve month high of $148.15. The business's fifty day moving average is $67.30 and its two-hundred day moving average is $79.63. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.92. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. The company had revenue of $11.87 billion during the quarter. As a group, research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Wall Street Analysts Forecast Growth

NVO has been the subject of several research analyst reports. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Guggenheim downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. BMO Capital Markets reissued a "market perform" rating and issued a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an "underperform" rating for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of "Hold" and a consensus 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.