Verdence Capital Advisors LLC Lowers Holdings in Novo Nordisk A/S (NYSE:NVO)

Verdence Capital Advisors LLC trimmed its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,783 shares of the company's stock after selling 4,684 shares during the period. Verdence Capital Advisors LLC's holdings in Novo Nordisk A/S were worth $3,040,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Bank of America Corp DE raised its position in shares of Novo Nordisk A/S by 8.1% in the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock worth $1,332,655,000 after acquiring an additional 1,165,955 shares in the last quarter. GQG Partners LLC grew its stake in 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 worth $1,117,790,000 after buying an additional 5,556,460 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in 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 worth $995,397,000 after buying an additional 2,947,771 shares during the last quarter. Folketrygdfondet grew its stake in Novo Nordisk A/S by 6.9% during the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock worth $661,202,000 after buying an additional 617,974 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in 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 worth $715,084,000 after buying an additional 123,681 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded down $0.97 during trading hours on Friday, hitting $64.32. 8,032,293 shares of the stock traded hands, compared to its average volume of 7,373,458. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56. The firm's 50 day moving average price is $70.37 and its 200-day moving average price is $74.53. The stock has a market capitalization of $287.19 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 1.29 and a beta of 0.64. Novo Nordisk A/S has a 1 year low of $57.00 and a 1 year high of $139.74.

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 the consensus estimate of $0.92. The business had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Guggenheim downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. BNP Paribas assumed coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an "underperform" rating on the stock. Wall Street Zen upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, Dbs Bank downgraded Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.