Harmony Asset Management LLC Sells 47,697 Shares of Novo Nordisk A/S (NYSE:NVO)

Harmony Asset Management LLC lessened its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 77.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,080 shares of the company's stock after selling 47,697 shares during the period. Harmony Asset Management LLC's holdings in Novo Nordisk A/S were worth $978,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC lifted its holdings in Novo Nordisk A/S by 8.7% in the 4th 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 period. Charles Schwab Investment Management Inc. raised its holdings in Novo Nordisk A/S by 10.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 225,914 shares of the company's stock valued at $19,433,000 after acquiring an additional 21,331 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Novo Nordisk A/S by 58.5% in the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company's stock worth $5,410,000 after purchasing an additional 23,223 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Novo Nordisk A/S during the fourth quarter worth approximately $13,282,000. Finally, Daiwa Securities Group Inc. increased its stake in Novo Nordisk A/S by 3,688.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,790 shares of the company's stock worth $756,000 after acquiring an additional 8,558 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NVO shares. BNP Paribas assumed coverage on Novo Nordisk A/S in a research report on Tuesday, April 15th. They issued an "underperform" rating on the stock. Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Finally, Dbs Bank downgraded shares of Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of "Hold" and an average target price of $112.00.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO traded down $1.62 during mid-day trading on Tuesday, reaching $67.32. 7,236,792 shares of the company traded hands, compared to its average volume of 7,328,271. Novo Nordisk A/S has a 52 week low of $57.00 and a 52 week high of $143.49. The firm has a market cap of $300.59 billion, a PE ratio of 19.92, a PEG ratio of 1.33 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. The company's 50 day moving average price is $70.35 and its 200-day moving average price is $74.78.

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 (EPS) for the quarter, meeting 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 firm had revenue of $11.87 billion for the quarter. On average, equities analysts expect that Novo Nordisk A/S will post 3.84 EPS 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.