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Novo Nordisk A/S (NYSE:NVO) Shares Sold by Costello Asset Management INC

Novo Nordisk A/S logo with Medical background

Key Points

  • Costello Asset Management INC has significantly reduced its stake in Novo Nordisk A/S by 90.2%, resulting in ownership of only 1,618 shares valued at $112,000.
  • Institutional investors have shown mixed activity, with several firms increasing their holdings while 11.54% of the company's stock is under institutional ownership.
  • Novo Nordisk reported earnings of $0.92 per share, meeting analyst expectations, with a revenue of $11.87 billion for the last quarter.
  • Five stocks to consider instead of Novo Nordisk A/S.

Costello Asset Management INC decreased its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 90.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,618 shares of the company's stock after selling 14,886 shares during the quarter. Costello Asset Management INC's holdings in Novo Nordisk A/S were worth $112,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NVO. BIP Wealth LLC grew its stake in Novo Nordisk A/S by 3.9% in the 4th quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock valued at $313,000 after acquiring an additional 138 shares during the last quarter. Xponance Inc. grew its stake in Novo Nordisk A/S by 5.0% in the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock valued at $230,000 after acquiring an additional 158 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in Novo Nordisk A/S by 3.6% in the 1st quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock valued at $348,000 after acquiring an additional 173 shares during the last quarter. LRI Investments LLC grew its stake in Novo Nordisk A/S by 1.4% in the 4th quarter. LRI Investments LLC now owns 13,060 shares of the company's stock valued at $1,123,000 after acquiring an additional 176 shares during the last quarter. Finally, Beacon Financial Group grew its stake in 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 acquiring an additional 177 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

NVO opened at $47.20 on Wednesday. The company's 50 day simple moving average is $68.43 and its 200 day simple moving average is $72.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. Novo Nordisk A/S has a 1 year low of $46.90 and a 1 year high of $139.74. The stock has a market capitalization of $210.75 billion, a PE ratio of 13.96, a P/E/G ratio of 1.48 and a beta of 0.63.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NVO shares. 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 note on Thursday, April 17th. Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday. Hsbc Global Res cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. BNP Paribas began coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an "underperform" rating on the stock. Finally, Guggenheim cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S presently has an average rating of "Hold" and an average target price of $93.67.

View Our Latest Stock Analysis on NVO

About Novo Nordisk A/S

(Free Report)

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.

Further Reading

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).

Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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