PNC Financial Services Group Inc. Sells 14,800 Shares of Novo Nordisk A/S (NYSE:NVO)

PNC Financial Services Group Inc. reduced its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 525,247 shares of the company's stock after selling 14,800 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Novo Nordisk A/S were worth $36,473,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL raised its position in shares of Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock valued at $27,000 after purchasing an additional 300 shares during the period. Copeland Capital Management LLC raised its position in shares of Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after purchasing an additional 255 shares during the period. North Capital Inc. bought a new position in shares of Novo Nordisk A/S in the first quarter valued at about $27,000. Park Square Financial Group LLC bought a new position in shares of Novo Nordisk A/S in the fourth quarter valued at about $29,000. Finally, Transce3nd LLC bought a new position in shares of Novo Nordisk A/S in the fourth quarter valued at about $33,000. 11.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on NVO. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. HSBC lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a research report on Thursday. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Finally, BMO Capital Markets restated a "market perform" rating and issued a $64.00 price target (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $93.67.

Novo Nordisk A/S Trading Up 2.5%

NVO stock opened at $48.23 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. The company's 50-day simple moving average is $69.26 and its 200 day simple moving average is $72.58. Novo Nordisk A/S has a 52 week low of $46.90 and a 52 week high of $139.74. The company has a market capitalization of $215.35 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share (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%. As a group, sell-side 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.

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