Pinnacle Financial Partners Inc Sells 25,975 Shares of Novo Nordisk A/S (NYSE:NVO)

Pinnacle Financial Partners Inc trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 57.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 18,886 shares of the company's stock after selling 25,975 shares during the quarter. Pinnacle Financial Partners Inc's holdings in Novo Nordisk A/S were worth $1,311,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Revolve Wealth Partners LLC boosted its position in shares of Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after acquiring an additional 200 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Novo Nordisk A/S by 10.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 225,914 shares of the company's stock valued at $19,433,000 after acquiring an additional 21,331 shares during the last quarter. Keybank National Association OH lifted its holdings in Novo Nordisk A/S by 1.5% during the 4th quarter. Keybank National Association OH now owns 66,497 shares of the company's stock worth $5,720,000 after buying an additional 1,007 shares during the period. Victory Capital Management Inc. increased its position in Novo Nordisk A/S by 58.5% during the 4th quarter. Victory Capital Management Inc. now owns 62,897 shares of the company's stock valued at $5,410,000 after purchasing an additional 23,223 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of Novo Nordisk A/S by 1.6% in the 4th quarter. Assetmark Inc. now owns 449,130 shares of the company's stock valued at $38,634,000 after purchasing an additional 7,248 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $0.77 during midday trading on Friday, hitting $69.05. The company's stock had a trading volume of 4,047,911 shares, compared to its average volume of 7,246,407. The stock has a fifty day moving average price of $69.82 and a 200 day moving average price of $76.19. The firm has a market capitalization of $308.31 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 1.36 and a beta of 0.64. Novo Nordisk A/S has a one year low of $57.00 and a one year high of $143.69. 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 posted its 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 business 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%. On average, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Analysts Set New Price Targets

NVO has been the subject of several recent analyst reports. Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. BMO Capital Markets restated 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. Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Kepler Capital Markets raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Finally, BNP Paribas assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $112.00.

Novo Nordisk A/S 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.