Portside Wealth Group LLC Sells 4,714 Shares of Novo Nordisk A/S (NYSE:NVO)

Portside Wealth Group LLC lowered its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 8.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,717 shares of the company's stock after selling 4,714 shares during the period. Portside Wealth Group LLC's holdings in Novo Nordisk A/S were worth $3,730,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. M. Kulyk & Associates LLC lifted its stake in Novo Nordisk A/S by 3.9% in the 4th quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company's stock valued at $274,000 after buying an additional 119 shares in the last quarter. Center for Financial Planning Inc. increased its stake in Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock worth $25,000 after acquiring an additional 123 shares during the last quarter. Tradewinds Capital Management LLC grew its stake in Novo Nordisk A/S by 2.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 4,984 shares of the company's stock worth $429,000 after buying an additional 124 shares during the period. Exencial Wealth Advisors LLC boosted its position in Novo Nordisk A/S by 0.5% during the 4th quarter. Exencial Wealth Advisors LLC now owns 23,094 shares of the company's stock worth $1,987,000 after purchasing an additional 124 shares during the period. Finally, Indie Asset Partners LLC increased its holdings in Novo Nordisk A/S by 4.2% in the 4th quarter. Indie Asset Partners LLC now owns 3,128 shares of the company's stock valued at $269,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Guggenheim lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an "equal weight" rating on the stock. BNP Paribas initiated coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an "underperform" rating for the company. Finally, Wall Street Zen raised Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of "Hold" and an average price target of $128.00.

Novo Nordisk A/S Trading Up 0.7%

Novo Nordisk A/S stock traded up $0.53 during mid-day trading on Thursday, hitting $72.57. The stock had a trading volume of 5,088,580 shares, compared to its average volume of 6,858,486. The stock has a market capitalization of $325.64 billion, a PE ratio of 22.06, a P/E/G ratio of 0.90 and a beta of 0.66. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a 12 month low of $57.00 and a 12 month high of $148.15. The stock has a 50-day simple moving average of $65.67 and a two-hundred day simple moving average of $81.09.

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. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The business had revenue of $11.87 billion for the quarter. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 EPS 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.