Oppenheimer & Co. Inc. Sells 8,549 Shares of Novo Nordisk A/S (NYSE:NVO)

Oppenheimer & Co. Inc. trimmed its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 6.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,517 shares of the company's stock after selling 8,549 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Novo Nordisk A/S were worth $8,994,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its holdings in shares of Novo Nordisk A/S by 17.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 470,565 shares of the company's stock valued at $32,676,000 after buying an additional 69,545 shares during the last quarter. Brown Lisle Cummings Inc. lifted its position in Novo Nordisk A/S by 14.5% in the 1st quarter. Brown Lisle Cummings Inc. now owns 55,929 shares of the company's stock valued at $3,884,000 after acquiring an additional 7,071 shares in the last quarter. Moser Wealth Advisors LLC lifted its position in Novo Nordisk A/S by 7.1% in the 1st quarter. Moser Wealth Advisors LLC now owns 15,100 shares of the company's stock valued at $1,049,000 after acquiring an additional 1,000 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in Novo Nordisk A/S by 13.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 14,135 shares of the company's stock valued at $982,000 after acquiring an additional 1,636 shares in the last quarter. Finally, Live Oak Private Wealth LLC lifted its position in Novo Nordisk A/S by 65.0% in the 1st quarter. Live Oak Private Wealth LLC now owns 25,730 shares of the company's stock valued at $1,787,000 after acquiring an additional 10,137 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stifel Nicolaus downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. BMO Capital Markets reaffirmed a "market perform" rating and set a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Finally, 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. 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $112.00.

Novo Nordisk A/S Stock Performance

NVO stock traded down $3.36 during trading on Wednesday, reaching $67.37. The stock had a trading volume of 13,618,747 shares, compared to its average volume of 7,194,421. Novo Nordisk A/S has a 52 week low of $57.00 and a 52 week high of $145.99. The stock's 50 day moving average is $68.70 and its two-hundred day moving average is $77.86. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The firm has a market cap of $300.81 billion, a PE ratio of 19.93, a PEG ratio of 1.26 and a beta of 0.66.

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 for the quarter, hitting 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. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current 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.