Signaturefd LLC Sells 5,049 Shares of Novo Nordisk A/S (NYSE:NVO)

Signaturefd LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 6.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,058 shares of the company's stock after selling 5,049 shares during the period. Signaturefd LLC's holdings in Novo Nordisk A/S were worth $4,934,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. increased its stake in Novo Nordisk A/S by 58.5% in the fourth 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 in the last quarter. North Star Investment Management Corp. increased its stake in Novo Nordisk A/S by 18.2% in the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock valued at $1,440,000 after purchasing an additional 3,200 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Novo Nordisk A/S by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company's stock valued at $58,316,000 after purchasing an additional 47,804 shares in the last quarter. Stanley Laman Group Ltd. bought a new stake in Novo Nordisk A/S in the first quarter valued at $390,000. Finally, Dover Advisors LLC bought a new stake in Novo Nordisk A/S in the first quarter valued at $505,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Stock Down 2.8%

Novo Nordisk A/S stock traded down $1.89 during midday trading on Thursday, hitting $65.15. 4,932,995 shares of the stock were exchanged, compared to its average volume of 7,354,276. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $290.89 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.29 and a beta of 0.64. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $139.74. The business's 50-day moving average price is $70.36 and its 200-day moving average price is $74.67.

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 (EPS) for the quarter, meeting 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 for the quarter. On average, research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVO. Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Dbs Bank downgraded shares of Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Guggenheim downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. BNP Paribas began coverage on shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating for the company. Finally, BMO Capital Markets reissued a "market perform" rating and set a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.