Strategic Global Advisors LLC Sells 2,374 Shares of Novo Nordisk A/S (NYSE:NVO)

Strategic Global Advisors LLC reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 24.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,504 shares of the company’s stock after selling 2,374 shares during the period. Strategic Global Advisors LLC’s holdings in Novo Nordisk A/S were worth $645,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strive Asset Management LLC acquired a new position in shares of Novo Nordisk A/S in the 4th quarter worth approximately $228,000. Toronto Dominion Bank raised its position in Novo Nordisk A/S by 494.1% in the 4th quarter. Toronto Dominion Bank now owns 88,295 shares of the company’s stock valued at $7,595,000 after purchasing an additional 73,432 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in Novo Nordisk A/S by 3.1% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 127,998 shares of the company’s stock worth $11,010,000 after purchasing an additional 3,881 shares in the last quarter. Sphera Funds Management LTD. grew its holdings in shares of Novo Nordisk A/S by 25.6% during the fourth quarter. Sphera Funds Management LTD. now owns 98,080 shares of the company’s stock worth $8,437,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Polar Asset Management Partners Inc. increased its stake in shares of Novo Nordisk A/S by 86.0% in the fourth quarter. Polar Asset Management Partners Inc. now owns 27,900 shares of the company’s stock valued at $2,400,000 after buying an additional 12,900 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Guggenheim lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating for the company. BNP Paribas began coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They set an “underperform” rating on the stock. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $135.00.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $64.35 on Friday. The firm’s 50 day simple moving average is $67.31 and its 200 day simple moving average is $84.38. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $148.15. The company has a market capitalization of $288.75 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 0.90 and a beta of 0.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. The company had revenue of $11.87 billion for the quarter. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Company 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.