Novo Nordisk A/S (NYSE:NVO) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,552 shares of the company's stock after selling 9,133 shares during the quarter. Portside Wealth Group LLC's holdings in Novo Nordisk A/S were worth $3,094,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in shares of Novo Nordisk A/S by 8.1% during the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock valued at $1,332,655,000 after acquiring an additional 1,165,955 shares during the last quarter. GQG Partners LLC boosted its position in shares of Novo Nordisk A/S by 74.7% during the 4th quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock valued at $1,117,790,000 after acquiring an additional 5,556,460 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Novo Nordisk A/S by 34.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock valued at $995,397,000 after acquiring an additional 2,947,771 shares during the last quarter. Folketrygdfondet boosted its position in shares of Novo Nordisk A/S by 0.5% during the 4th quarter. Folketrygdfondet now owns 8,903,938 shares of the company's stock valued at $765,917,000 after acquiring an additional 40,313 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Novo Nordisk A/S by 1.5% during the 4th quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company's stock valued at $715,084,000 after acquiring an additional 123,681 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVO. Guggenheim lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Dbs Bank downgraded Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Finally, Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an "equal weight" rating for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $112.00.

Novo Nordisk A/S Stock Performance

Shares of NVO stock traded up $2.34 during trading hours on Thursday, hitting $81.07. The stock had a trading volume of 10,546,567 shares, compared to its average volume of 6,992,049. The firm has a market capitalization of $363.80 billion, a PE ratio of 24.64, a PEG ratio of 0.90 and a beta of 0.66. Novo Nordisk A/S has a twelve month low of $57.00 and a twelve month high of $148.15. The stock's 50 day moving average is $66.58 and its 200 day moving average is $80.16. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal 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.