Novo Nordisk A/S (NYSE:NVO) Stock Position Decreased by JW Asset Management LLC

JW Asset Management LLC lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 42.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,200 shares of the company’s stock after selling 50,000 shares during the period. Novo Nordisk A/S accounts for about 3.2% of JW Asset Management LLC’s holdings, making the stock its 5th largest holding. JW Asset Management LLC’s holdings in Novo Nordisk A/S were worth $8,757,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVO. Capital International Investors lifted its position in 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 acquiring an additional 1,297,536 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Novo Nordisk A/S by 10,359.2% during the 4th quarter. International Assets Investment Management LLC now owns 819,688 shares of the company’s stock valued at $84,797,000 after buying an additional 811,851 shares during the period. American Century Companies Inc. lifted its holdings in shares of Novo Nordisk A/S by 184.8% during the 3rd quarter. American Century Companies Inc. now owns 1,098,332 shares of the company’s stock valued at $99,882,000 after buying an additional 712,745 shares during the period. Norden Group LLC lifted its holdings in shares of Novo Nordisk A/S by 2,456.0% during the 1st quarter. Norden Group LLC now owns 658,856 shares of the company’s stock valued at $84,597,000 after buying an additional 633,079 shares during the period. Finally, Sapient Capital LLC bought a new position in shares of Novo Nordisk A/S during the 4th quarter valued at $65,340,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded up $2.29 during trading on Friday, reaching $142.08. The company had a trading volume of 2,877,642 shares, compared to its average volume of 3,473,563. Novo Nordisk A/S has a 52 week low of $77.96 and a 52 week high of $148.15. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $637.59 billion, a price-to-earnings ratio of 48.99, a price-to-earnings-growth ratio of 1.41 and a beta of 0.41. The firm’s 50-day simple moving average is $138.06 and its 200 day simple moving average is $126.57.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The business had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.23 billion. Sell-side analysts forecast that Novo Nordisk A/S will post 3.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NVO has been the topic of several research analyst reports. 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 report on Monday, June 10th. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, July 1st. Finally, BMO Capital Markets reissued an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.67.

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.