Ritholtz Wealth Management Decreases Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Ritholtz Wealth Management decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 13.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,309 shares of the company’s stock after selling 16,517 shares during the quarter. Ritholtz Wealth Management’s holdings in Novo Nordisk A/S were worth $7,243,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bank of America Corp DE increased its position in shares of Novo Nordisk A/S by 8.1% during the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company’s stock valued at $1,332,655,000 after purchasing an additional 1,165,955 shares during the last quarter. GQG Partners LLC increased its position in shares of Novo Nordisk A/S by 74.7% during the 4th quarter. GQG Partners LLC now owns 12,994,533 shares of the company’s stock valued at $1,117,790,000 after purchasing an additional 5,556,460 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Novo Nordisk A/S by 34.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock valued at $995,397,000 after purchasing an additional 2,947,771 shares during the last quarter. Folketrygdfondet increased its position in shares of Novo Nordisk A/S by 0.5% during the 4th quarter. Folketrygdfondet now owns 8,903,938 shares of the company’s stock valued at $765,917,000 after purchasing an additional 40,313 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Novo Nordisk A/S by 1.5% during the 4th quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company’s stock valued at $715,084,000 after purchasing an additional 123,681 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 1.4%

Novo Nordisk A/S stock opened at $79.90 on Friday. The firm has a 50 day moving average of $67.30 and a 200 day moving average of $79.63. The firm has a market capitalization of $358.57 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 0.90 and a beta of 0.66. Novo Nordisk A/S has a 12-month low of $57.00 and a 12-month high of $148.15. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on NVO. Wall Street Zen raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Saturday. BMO Capital Markets reaffirmed a “market perform” rating and set a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. BNP Paribas began coverage on shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an “underperform” rating for the company. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Hsbc Global Res raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Hold” and a consensus target price of $112.00.

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.