Main Street Research LLC Sells 74,465 Shares of Novo Nordisk A/S (NYSE:NVO)

Main Street Research LLC trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 86.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,338 shares of the company's stock after selling 74,465 shares during the period. Main Street Research LLC's holdings in Novo Nordisk A/S were worth $800,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. GQG Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 74.7% in the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock valued at $1,117,790,000 after purchasing an additional 5,556,460 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in Novo Nordisk A/S by 34.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock valued at $995,397,000 after purchasing an additional 2,947,771 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Novo Nordisk A/S by 73.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock worth $537,189,000 after buying an additional 2,639,693 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $158,657,000. Finally, Clearbridge Investments LLC boosted its holdings in shares of Novo Nordisk A/S by 59.8% during the 4th quarter. Clearbridge Investments LLC now owns 4,283,317 shares of the company's stock worth $368,451,000 after buying an additional 1,602,549 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

Shares of NVO stock traded up $0.16 during trading hours on Wednesday, hitting $69.80. 5,372,841 shares of the company's stock were exchanged, compared to its average volume of 7,292,013. Novo Nordisk A/S has a 52 week low of $57.00 and a 52 week high of $143.49. The stock's 50-day moving average is $70.19 and its 200-day moving average is $75.37. 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 stock has a market cap of $311.66 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 1.36 and a beta of 0.64.

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 for the quarter, hitting analysts' consensus estimates of $0.92. The company 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%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVO. Wall Street Zen raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Kepler Capital Markets upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Dbs Bank cut Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Finally, BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating on the stock. 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 presently has an average rating of "Hold" and an average price target of $112.00.

About Novo Nordisk A/S

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.