Summit Global Investments Cuts Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Summit Global Investments reduced its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 22.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,310 shares of the company's stock after selling 6,927 shares during the quarter. Summit Global Investments' holdings in Novo Nordisk A/S were worth $2,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Clarius Group LLC lifted its holdings in shares of Novo Nordisk A/S by 0.5% during the 4th quarter. Clarius Group LLC now owns 18,505 shares of the company's stock worth $1,914,000 after acquiring an additional 93 shares during the last quarter. Tradewinds Capital Management LLC boosted its holdings in shares of Novo Nordisk A/S by 2.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 4,955 shares of the company's stock worth $513,000 after purchasing an additional 95 shares in the last quarter. Relyea Zuckerberg Hanson LLC increased its position in shares of Novo Nordisk A/S by 3.2% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 3,159 shares of the company's stock valued at $327,000 after purchasing an additional 99 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Novo Nordisk A/S by 3.5% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 2,960 shares of the company's stock valued at $306,000 after buying an additional 100 shares in the last quarter. Finally, Highlander Capital Management LLC lifted its position in Novo Nordisk A/S by 0.4% in the 4th quarter. Highlander Capital Management LLC now owns 25,100 shares of the company's stock worth $2,597,000 after buying an additional 100 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Down 0.8 %

NYSE:NVO traded down $0.94 on Friday, reaching $123.08. 5,930,713 shares of the stock traded hands, compared to its average volume of 4,863,548. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $552.33 billion, a price-to-earnings ratio of 45.50, a PEG ratio of 2.16 and a beta of 0.43. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28. The company's fifty day simple moving average is $127.21 and its 200 day simple moving average is $112.77.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. The business had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. Equities analysts predict that Novo Nordisk A/S will post 3.32 EPS for the current fiscal year.

Analysts Set New Price Targets

NVO has been the subject of a number of recent research reports. BMO Capital Markets started coverage on shares of Novo Nordisk A/S in a report on Friday, April 12th. They issued an "outperform" rating and a $163.00 price objective for the company. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They issued an "overweight" rating and a $120.00 target price on the stock. UBS Group began coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a "neutral" rating for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of "Moderate Buy" and an average price target of $133.60.

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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