Bleakley Financial Group LLC Trims Stake in Novo Nordisk A/S (NYSE:NVO)

Bleakley Financial Group LLC reduced its position in Novo Nordisk A/S (NYSE:NVO) by 11.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 70,093 shares of the company’s stock after selling 9,086 shares during the period. Bleakley Financial Group LLC’s holdings in Novo Nordisk A/S were worth $6,029,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NVO. Daiwa Securities Group Inc. bought a new stake in shares of Novo Nordisk A/S during the third quarter worth $28,000. Capital Performance Advisors LLP purchased a new position in Novo Nordisk A/S in the 3rd quarter worth about $42,000. Albion Financial Group UT boosted its position in Novo Nordisk A/S by 121.4% in the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after buying an additional 278 shares during the period. Sound Income Strategies LLC grew its stake in Novo Nordisk A/S by 82.1% in the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after acquiring an additional 243 shares in the last quarter. Finally, Hager Investment Management Services LLC bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Performance

NVO opened at $85.83 on Thursday. The company has a market cap of $385.16 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 0.93 and a beta of 0.45. Novo Nordisk A/S has a 52-week low of $78.17 and a 52-week high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $92.65 and its 200-day moving average price is $112.19.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 35.03% and a return on equity of 86.32%. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.16 EPS for the current fiscal 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.