Novo Nordisk A/S (NYSE:NVO) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 0.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 95,031 shares of the company’s stock after selling 146 shares during the period. Private Advisor Group LLC’s holdings in Novo Nordisk A/S were worth $12,202,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. Pacific Center for Financial Services grew its position in Novo Nordisk A/S by 100.0% during the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. First PREMIER Bank acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at about $25,000. CNB Bank acquired a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at about $26,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at about $26,000. Finally, West Paces Advisors Inc. grew its position in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. West Paces Advisors Inc. now owns 300 shares of the company’s stock valued at $27,000 after acquiring an additional 150 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

NVO traded up $3.50 during trading on Friday, reaching $142.37. The company’s stock had a trading volume of 3,664,490 shares, compared to its average volume of 3,456,442. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $136.52 and a two-hundred day simple moving average of $124.87. Novo Nordisk A/S has a 1 year low of $75.56 and a 1 year high of $148.15. The company has a market cap of $638.89 billion, a price-to-earnings ratio of 49.11, a PEG ratio of 1.37 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The business had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.23 billion. As a group, analysts anticipate that Novo Nordisk A/S will post 3.44 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NVO shares. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Argus raised their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, July 1st. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.67.

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.