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Novo Nordisk A/S (NYSE:NVO) Shares Sold by New York State Common Retirement Fund

Novo Nordisk A/S logo with Medical background

New York State Common Retirement Fund lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 55.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,939 shares of the company's stock after selling 73,297 shares during the period. New York State Common Retirement Fund's holdings in Novo Nordisk A/S were worth $4,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of NVO. Revolve Wealth Partners LLC boosted its stake in shares of Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after acquiring an additional 200 shares during the period. Xponance Inc. raised its position in Novo Nordisk A/S by 4.9% during the fourth quarter. Xponance Inc. now owns 3,156 shares of the company's stock valued at $271,000 after purchasing an additional 146 shares during the period. Dillon & Associates Inc. raised its position in Novo Nordisk A/S by 1.4% during the fourth quarter. Dillon & Associates Inc. now owns 287,476 shares of the company's stock valued at $24,723,000 after purchasing an additional 4,059 shares during the period. Congress Wealth Management LLC DE raised its position in Novo Nordisk A/S by 7.8% during the fourth quarter. Congress Wealth Management LLC DE now owns 18,079 shares of the company's stock valued at $1,555,000 after purchasing an additional 1,303 shares during the period. Finally, Woodmont Investment Counsel LLC raised its holdings in shares of Novo Nordisk A/S by 276.2% in the fourth quarter. Woodmont Investment Counsel LLC now owns 110,551 shares of the company's stock worth $9,510,000 after buying an additional 81,163 shares during the period. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock traded up $1.84 during midday trading on Tuesday, hitting $66.76. The company had a trading volume of 8,960,560 shares, compared to its average volume of 7,386,167. The company's 50 day simple moving average is $70.34 and its 200 day simple moving average is $74.21. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $139.74. The stock has a market cap of $298.10 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.24 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.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share 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 return on equity of 80.94% and a net margin of 34.52%. Research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NVO. BMO Capital Markets reaffirmed 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. Wall Street Zen upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Guggenheim lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. 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. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of "Hold" and a consensus target price of $112.00.

Get Our Latest Research Report on NVO

About Novo Nordisk A/S

(Free Report)

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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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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