Beacon Investment Advisory Services Inc. Trims Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Beacon Investment Advisory Services Inc. decreased its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,067 shares of the company's stock after selling 35,166 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Novo Nordisk A/S were worth $18,545,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. BIP Wealth LLC lifted its holdings in shares of Novo Nordisk A/S by 3.9% during the 4th quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock worth $313,000 after acquiring an additional 138 shares during the period. Xponance Inc. increased its position in Novo Nordisk A/S by 4.9% during the fourth quarter. Xponance Inc. now owns 3,156 shares of the company's stock worth $271,000 after purchasing an additional 146 shares during the last quarter. 180 Wealth Advisors LLC increased its position in Novo Nordisk A/S by 3.6% during the first quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after purchasing an additional 173 shares during the last quarter. LRI Investments LLC raised its stake in Novo Nordisk A/S by 1.4% during the fourth quarter. LRI Investments LLC now owns 13,060 shares of the company's stock worth $1,123,000 after purchasing an additional 176 shares during the period. Finally, Beacon Financial Group boosted its holdings in shares of Novo Nordisk A/S by 6.5% in the 1st quarter. Beacon Financial Group now owns 2,884 shares of the company's stock valued at $200,000 after purchasing an additional 177 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Up 1.0%

NYSE:NVO traded up $0.71 during mid-day trading on Thursday, hitting $70.74. The company had a trading volume of 10,157,270 shares, compared to its average volume of 7,044,014. The business has a fifty day simple moving average of $70.43 and a 200-day simple moving average of $73.97. The firm has a market capitalization of $315.84 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.35 and a beta of 0.64. Novo Nordisk A/S has a 1 year low of $57.00 and a 1 year high of $139.74. 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 (NYSE:NVO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting 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 forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

NVO has been the subject of a number of research analyst reports. Dbs Bank downgraded Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. BNP Paribas began coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an "underperform" rating for the company. Guggenheim downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. BMO Capital Markets reiterated a "market perform" rating and set a $64.00 target price (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Finally, Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Two research 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. Based on data from MarketBeat.com, the company has an average 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.