Novo Nordisk A/S (NYSE:NVO) Shares Sold by Main Street Research LLC

Main Street Research LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 86.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. GQG Partners LLC lifted its stake in shares of Novo Nordisk A/S by 74.7% in the 4th 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 during the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of Novo Nordisk A/S by 34.2% in the 4th 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 during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Novo Nordisk A/S by 73.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock valued at $537,189,000 after purchasing an additional 2,639,693 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $158,657,000. Finally, Clearbridge Investments LLC lifted its stake in shares of Novo Nordisk A/S by 59.8% in the 4th quarter. Clearbridge Investments LLC now owns 4,283,317 shares of the company's stock valued at $368,451,000 after purchasing an additional 1,602,549 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. BMO Capital Markets reissued a "market perform" rating and issued a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating for the company. Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Guggenheim downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Two equities research 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, the stock currently has an average rating of "Hold" and a consensus price target of $112.00.

Novo Nordisk A/S Stock Down 2.9%

Shares of NYSE NVO traded down $2.08 during midday trading on Friday, reaching $68.93. 6,511,310 shares of the company's stock traded hands, compared to its average volume of 7,316,084. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70. The stock's 50 day simple moving average is $70.36 and its 200-day simple moving average is $75.21. Novo Nordisk A/S has a one year low of $57.00 and a one year high of $143.49. The company has a market cap of $307.77 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.38 and a beta of 0.64.

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

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.