Foundations Investment Advisors LLC Lowers Stock Position in Novo Nordisk A/S (NYSE:NVO)

Key Points

• Foundations Investment Advisors LLC has significantly reduced its stake in Novo Nordisk A/S by 93.7%, holding just 9,774 shares after selling 144,630 shares.
• Analysts have mixed views on Novo Nordisk A/S, with HSBC downgrading it from a "buy" to a "hold" rating, while Wall Street Zen upgraded it from "hold" to "buy," indicating varying sentiment among investment experts.
• As of the latest trading session, Novo Nordisk A/S stock reached $48.23, has a market capitalization of $215.35 billion, and is currently facing challenges with a consensus price target of $93.67.

Foundations Investment Advisors LLC cut its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 93.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,774 shares of the company's stock after selling 144,630 shares during the period. Foundations Investment Advisors LLC's holdings in Novo Nordisk A/S were worth $679,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC lifted its holdings in Novo Nordisk A/S by 8.7% during the 4th 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 in the last quarter. Wellington Management Group LLP raised its holdings in shares of Novo Nordisk A/S by 135.3% in the 4th quarter. Wellington Management Group LLP now owns 830,435 shares of the company's stock valued at $71,434,000 after purchasing an additional 477,557 shares in the last quarter. Summit Financial LLC raised its holdings in shares of Novo Nordisk A/S by 122.1% in the 4th quarter. Summit Financial LLC now owns 10,617 shares of the company's stock valued at $913,000 after purchasing an additional 5,837 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $893,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Novo Nordisk A/S by 25.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 100,108 shares of the company's stock valued at $8,611,000 after purchasing an additional 20,448 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NVO shares. HSBC lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target for the company. in a report on Thursday. Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday. BMO Capital Markets reissued 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 research report on Thursday, April 17th. Finally, BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of "Hold" and a consensus target price of $93.67.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded up $1.16 during mid-day trading on Friday, reaching $48.23. 34,710,384 shares of the company traded hands, compared to its average volume of 17,615,270. 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 fifty-two week low of $46.90 and a fifty-two week high of $139.74. The company has a market capitalization of $215.35 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.41 and a beta of 0.63. The firm's fifty day moving average is $69.64 and its two-hundred day moving average is $72.95.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The business 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 research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Company 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.