Novo Nordisk A/S (NYSE:NVO) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,968 shares of the company's stock after selling 20,488 shares during the period. Russell Investments Group Ltd.'s holdings in Novo Nordisk A/S were worth $15,928,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

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

Novo Nordisk A/S Stock Down 0.8 %

Shares of NYSE NVO traded down $0.97 during mid-day trading on Friday, reaching $123.05. 5,932,926 shares of the company were exchanged, compared to its average volume of 3,905,318. Novo Nordisk A/S has a 1 year low of $75.56 and a 1 year high of $138.28. The firm has a 50-day moving average of $127.20 and a 200 day moving average of $112.93. The stock has a market cap of $552.19 billion, a price-to-earnings ratio of 42.43, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19.

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, beating analysts' consensus estimates of $0.66 by $0.05. The company had revenue of $9.51 billion during the quarter, compared to analysts' expectations of $9.14 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 92.21%. On average, research analysts expect that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Novo Nordisk A/S Company 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.