InTrack Investment Management Inc Has $440,000 Stake in Novo Nordisk A/S (NYSE:NVO)

InTrack Investment Management Inc lowered its holdings in Novo Nordisk A/S (NYSE:NVO) by 36.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,429 shares of the company’s stock after selling 1,945 shares during the period. InTrack Investment Management Inc’s holdings in Novo Nordisk A/S were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Morgan Stanley increased its position in shares of Novo Nordisk A/S by 96.5% in the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after acquiring an additional 4,526,199 shares during the last quarter. Folketrygdfondet raised its stake in shares of Novo Nordisk A/S by 1.4% during the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock worth $1,124,275,000 after purchasing an additional 124,770 shares in the last quarter. Capital International Investors boosted its holdings in shares of Novo Nordisk A/S by 22.3% in the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after buying an additional 1,297,536 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Novo Nordisk A/S by 109.2% in the third quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock valued at $331,300,000 after buying an additional 1,901,429 shares in the last quarter. Finally, Natixis Advisors L.P. increased its stake in shares of Novo Nordisk A/S by 1.8% during the 4th quarter. Natixis Advisors L.P. now owns 3,052,406 shares of the company’s stock worth $315,770,000 after purchasing an additional 55,333 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVO has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday. BMO Capital Markets reissued an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Argus increased their price target on 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. Finally, The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Stock Performance

NYSE:NVO traded down $2.42 during mid-day trading on Tuesday, reaching $143.00. 6,592,961 shares of the company’s stock were exchanged, compared to its average volume of 4,452,019. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The business’s fifty day simple moving average is $135.40 and its two-hundred day simple moving average is $124.04. The firm has a market capitalization of $641.72 billion, a PE ratio of 49.24, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41.

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

Novo Nordisk A/S 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.