Essex Savings Bank cut its stake in Novo Nordisk A/S (NYSE:NVO) by 15.7% in the second quarter, Holdings Channel reports. The institutional investor owned 3,650 shares of the company’s stock after selling 680 shares during the period. Essex Savings Bank’s holdings in Novo Nordisk A/S were worth $239,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Davis R M Inc. lifted its stake in shares of Novo Nordisk A/S by 5.7% in the 1st quarter. Davis R M Inc. now owns 4,491 shares of the company’s stock valued at $270,000 after purchasing an additional 241 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Novo Nordisk A/S by 63.3% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 42,962 shares of the company’s stock worth $2,586,000 after acquiring an additional 16,649 shares in the last quarter. FDx Advisors Inc. lifted its stake in Novo Nordisk A/S by 4.0% during the 1st quarter. FDx Advisors Inc. now owns 47,981 shares of the company’s stock worth $2,888,000 after acquiring an additional 1,826 shares in the last quarter. Invesco Ltd. lifted its stake in Novo Nordisk A/S by 65.8% during the 1st quarter. Invesco Ltd. now owns 159,835 shares of the company’s stock worth $9,621,000 after acquiring an additional 63,437 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Novo Nordisk A/S by 11.1% during the 1st quarter. Geode Capital Management LLC now owns 49,154 shares of the company’s stock worth $2,959,000 after purchasing an additional 4,903 shares during the period. Institutional investors own 6.69% of the company’s stock.
Several brokerages have weighed in on NVO. JPMorgan Chase & Co. restated an “overweight” rating on shares of Novo Nordisk A/S in a report on Wednesday, May 13th. Cowen began coverage on Novo Nordisk A/S in a report on Monday, May 4th. They set a “market perform” rating and a $72.00 price target on the stock. Bank of America downgraded Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Monday, July 6th. BofA Securities downgraded Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Monday, July 6th. Finally, Societe Generale restated a “sell” rating on shares of Novo Nordisk A/S in a report on Thursday, May 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Novo Nordisk A/S presently has an average rating of “Hold” and a consensus target price of $236.00.
Shares of NVO traded down $1.84 during mid-day trading on Friday, reaching $65.33. The company’s stock had a trading volume of 1,316,753 shares, compared to its average volume of 906,252. Novo Nordisk A/S has a 12-month low of $47.62 and a 12-month high of $68.96. The stock has a market cap of $153.84 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 2.55 and a beta of 0.45. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.00 and a quick ratio of 0.73. The company’s 50 day moving average is $66.31 and its 200 day moving average is $62.63.
Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. Novo Nordisk A/S had a return on equity of 73.87% and a net margin of 31.91%. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.70 billion. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 2.67 EPS for the current fiscal year.
Novo Nordisk A/S Company Profile
Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.
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