Gerber Kawasaki Wealth & Investment Management Sells 51,699 Shares of Novo Nordisk A/S $NVO

Gerber Kawasaki Wealth & Investment Management reduced its position in Novo Nordisk A/S (NYSE:NVO) by 79.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,394 shares of the company’s stock after selling 51,699 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Novo Nordisk A/S were worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Stone House Investment Management LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter valued at approximately $30,000. NewSquare Capital LLC raised its position in shares of Novo Nordisk A/S by 174.1% during the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after buying an additional 282 shares in the last quarter. Disciplina Capital Management LLC lifted its holdings in shares of Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after acquiring an additional 297 shares during the last quarter. Dagco Inc. bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $35,000. Finally, Mid American Wealth Advisory Group Inc. purchased a new position in Novo Nordisk A/S in the second quarter worth about $37,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 2.3%

Shares of NVO stock opened at $46.76 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78. Novo Nordisk A/S has a fifty-two week low of $43.08 and a fifty-two week high of $112.52. The firm has a market capitalization of $208.80 billion, a PE ratio of 13.59 and a beta of 0.67. The stock’s 50-day simple moving average is $51.61 and its 200-day simple moving average is $58.84.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. The business had revenue of $11.79 billion during the quarter, compared to the consensus estimate of $11.98 billion. Equities analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NVO has been the topic of several recent research reports. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Morgan Stanley reissued an “underweight” rating and issued a $42.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, December 3rd. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price for the company in a report on Wednesday, August 13th. The Goldman Sachs Group reduced their price objective on shares of Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Hold” and a consensus target price of $56.00.

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.