Stegent Equity Advisors Inc. Sells 4,010 Shares of Novo Nordisk A/S (NYSE:NVO)

Stegent Equity Advisors Inc. reduced its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 17.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,147 shares of the company's stock after selling 4,010 shares during the quarter. Novo Nordisk A/S accounts for about 1.3% of Stegent Equity Advisors Inc.'s investment portfolio, making the stock its 25th largest position. Stegent Equity Advisors Inc.'s holdings in Novo Nordisk A/S were worth $1,330,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 58.5% in the 4th quarter. Victory Capital Management Inc. now owns 62,897 shares of the company's stock worth $5,410,000 after purchasing an additional 23,223 shares in the last quarter. North Star Investment Management Corp. boosted its holdings in shares of Novo Nordisk A/S by 18.2% in the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock worth $1,440,000 after purchasing an additional 3,200 shares in the last quarter. Stanley Laman Group Ltd. purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $390,000. Dover Advisors LLC purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $505,000. Finally, Meridian Investment Counsel Inc. boosted its holdings in shares of Novo Nordisk A/S by 95.4% in the 4th quarter. Meridian Investment Counsel Inc. now owns 45,697 shares of the company's stock worth $3,931,000 after purchasing an additional 22,314 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NVO has been the subject of a number of research reports. Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Wall Street Zen upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. BNP Paribas initiated coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They set an "underperform" rating for the company. Dbs Bank cut Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Finally, BMO Capital Markets restated a "market perform" rating and set a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. 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 one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $112.00.

Novo Nordisk A/S Trading Up 2.0%

NYSE NVO opened at $71.06 on Friday. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $143.49. 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 stock has a 50 day simple moving average of $70.36 and a two-hundred day simple moving average of $75.21. The stock has a market cap of $317.26 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 1.36 and a beta of 0.64.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released 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 return on equity of 80.94% and a net margin of 34.52%. The business had revenue of $11.87 billion during the quarter. On average, analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

About Novo Nordisk A/S

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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