Novo Nordisk A/S (NYSE:NVO) Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 11.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,373 shares of the company's stock after selling 7,285 shares during the quarter. Naviter Wealth LLC's holdings in Novo Nordisk A/S were worth $3,768,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of America Corp DE increased its stake in Novo Nordisk A/S by 8.1% in the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock valued at $1,332,655,000 after purchasing an additional 1,165,955 shares during the period. GQG Partners LLC increased its stake in 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 during the period. Loomis Sayles & Co. L P increased 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 during the period. Folketrygdfondet increased its stake in Novo Nordisk A/S by 0.5% in the fourth quarter. Folketrygdfondet now owns 8,903,938 shares of the company's stock valued at $765,917,000 after purchasing an additional 40,313 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Novo Nordisk A/S by 1.5% in the fourth quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company's stock valued at $715,084,000 after purchasing an additional 123,681 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVO. Guggenheim lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $64.00 target price (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Finally, Wall Street Zen raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Two investment 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 company. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of "Hold" and a consensus price target of $112.00.

Novo Nordisk A/S Stock Up 1.2%

NVO stock opened at $68.50 on Friday. The company has a market cap of $305.85 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.22 and a beta of 0.66. Novo Nordisk A/S has a 52 week low of $57.00 and a 52 week high of $145.99. The company's 50-day moving average price is $69.11 and its 200 day moving average price is $77.04. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70.

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, hitting 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, 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.

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