Parr Mcknight Wealth Management Group LLC Sells 10,795 Shares of Novo Nordisk A/S $NVO

Parr Mcknight Wealth Management Group LLC trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 60.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,120 shares of the company’s stock after selling 10,795 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in Novo Nordisk A/S were worth $262,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NVO. Godfrey Financial Associates Inc. bought a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $25,000. WealthCollab LLC grew its holdings in shares of Novo Nordisk A/S by 93.5% during the fourth quarter. WealthCollab LLC now owns 538 shares of the company’s stock worth $27,000 after purchasing an additional 260 shares during the last quarter. American National Bank & Trust bought a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $28,000. Jackson Grant Investment Advisers Inc. bought a new position in shares of Novo Nordisk A/S in the fourth quarter valued at about $29,000. Finally, Maseco LLP acquired a new position in Novo Nordisk A/S during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $49.28 on Tuesday. The firm has a fifty day moving average of $45.71 and a two-hundred day moving average of $45.84. The stock has a market capitalization of $220.04 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 4.51 and a beta of 0.77. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $71.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. The business had revenue of $10.85 billion during the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%. As a group, equities research analysts predict that Novo Nordisk A/S will post 3.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NVO shares. Citigroup reissued a “neutral” rating on shares of Novo Nordisk A/S in a report on Tuesday, May 12th. Weiss Ratings cut Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 22nd. Nordea Equity Research upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Friday, June 19th. Wall Street Zen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Sanford C. Bernstein started coverage on shares of Novo Nordisk A/S in a research report on Wednesday, March 18th. They set an “outperform” rating and a $175.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.56.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.