Elm3 Financial Group LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 23.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,756 shares of the company's stock after selling 4,780 shares during the quarter. Novo Nordisk A/S makes up approximately 1.0% of Elm3 Financial Group LLC's investment portfolio, making the stock its 24th largest position. Elm3 Financial Group LLC's holdings in Novo Nordisk A/S were worth $1,094,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. North Star Investment Management Corp. raised its position in Novo Nordisk A/S by 18.2% in the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock valued at $1,440,000 after purchasing an additional 3,200 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Novo Nordisk A/S by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company's stock worth $58,316,000 after acquiring an additional 47,804 shares during the last quarter. Stanley Laman Group Ltd. acquired a new position in Novo Nordisk A/S in the first quarter valued at $390,000. Dover Advisors LLC purchased a new stake in Novo Nordisk A/S during the first quarter valued at about $505,000. Finally, Meridian Investment Counsel Inc. boosted its position in shares of Novo Nordisk A/S by 95.4% in the fourth quarter. Meridian Investment Counsel Inc. now owns 45,697 shares of the company's stock worth $3,931,000 after buying an additional 22,314 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
NVO has been the topic of several research reports. Wall Street Zen upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. BMO Capital Markets reissued a "market perform" rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Finally, Guggenheim lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $112.00.
Get Our Latest Stock Analysis on Novo Nordisk A/S
Novo Nordisk A/S Price Performance
NYSE:NVO traded up $0.94 during mid-day trading on Friday, reaching $71.67. The stock had a trading volume of 7,345,265 shares, compared to its average volume of 7,144,964. The stock has a 50-day simple moving average of $70.67 and a two-hundred day simple moving average of $73.80. The stock has a market capitalization of $320.00 billion, a PE ratio of 21.20, a P/E/G ratio of 1.36 and a beta of 0.64. 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 has a 12 month low of $57.00 and a 12 month high of $139.74.
Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.
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.
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