Atlas Capital Advisors LLC Trims Stock Position in Novo Nordisk A/S (NYSE:NVO)

Atlas Capital Advisors LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 10.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,192 shares of the company’s stock after selling 1,000 shares during the period. Atlas Capital Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,052,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Pacific Center for Financial Services boosted its holdings in shares of 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 valued at $25,000 after buying an additional 135 shares in the last quarter. First PREMIER Bank bought a new position in Novo Nordisk A/S in the 1st quarter worth about $25,000. CNB Bank bought a new position in Novo Nordisk A/S in the 4th quarter worth about $26,000. Tyler Stone Wealth Management lifted its stake in Novo Nordisk A/S by 100.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock valued at $27,000 after acquiring an additional 146 shares during the period. Finally, West Paces Advisors Inc. lifted its stake in 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. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Argus upped their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. BMO Capital Markets restated an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a research note on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, June 17th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded up $4.62 during midday trading on Tuesday, hitting $146.90. The stock had a trading volume of 6,334,379 shares, compared to its average volume of 4,477,609. The firm’s fifty day moving average is $133.78 and its two-hundred day moving average is $122.73. The company has a market capitalization of $659.22 billion, a PE ratio of 50.66, a P/E/G ratio of 1.41 and a beta of 0.41. Novo Nordisk A/S has a 52-week low of $75.56 and a 52-week high of $148.15. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. The company had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. On average, research analysts forecast that Novo Nordisk A/S will post 3.41 EPS for the current year.

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.