Private Advisor Group LLC Reduces Position in Novo Nordisk A/S (NYSE:NVO)

Private Advisor Group LLC lowered its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,692 shares of the company's stock after selling 6,148 shares during the quarter. Private Advisor Group LLC's holdings in Novo Nordisk A/S were worth $4,978,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NVO. BIP Wealth LLC raised its stake in Novo Nordisk A/S by 3.9% during the 4th quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock valued at $313,000 after acquiring an additional 138 shares during the last quarter. Xponance Inc. increased its position in Novo Nordisk A/S by 4.9% during the 4th quarter. Xponance Inc. now owns 3,156 shares of the company's stock worth $271,000 after purchasing an additional 146 shares during the period. 180 Wealth Advisors LLC increased its position in Novo Nordisk A/S by 3.6% during the 1st quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after purchasing an additional 173 shares during the period. LRI Investments LLC increased its position in Novo Nordisk A/S by 1.4% during the 4th quarter. LRI Investments LLC now owns 13,060 shares of the company's stock worth $1,123,000 after purchasing an additional 176 shares during the period. Finally, Beacon Financial Group increased its position in Novo Nordisk A/S by 6.5% during the 1st quarter. Beacon Financial Group now owns 2,884 shares of the company's stock worth $200,000 after purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Trading Up 1.0%

Shares of NYSE NVO opened at $64.96 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $139.74. The firm has a 50 day moving average price of $70.34 and a two-hundred day moving average price of $74.21. The stock has a market cap of $290.05 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 1.24 and a beta of 0.64.

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, 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 company had revenue of $11.87 billion during the quarter. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. BNP Paribas initiated coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an "underperform" rating on the stock. Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. BMO Capital Markets reiterated 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 research note on Thursday, April 17th. Finally, Guggenheim cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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.

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