Armistice Capital LLC Trims Stock Position in Novo Nordisk A/S (NYSE:NVO)

Armistice Capital LLC lowered its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 396,000 shares of the company’s stock after selling 40,000 shares during the quarter. Armistice Capital LLC’s holdings in Novo Nordisk A/S were worth $40,966,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. CNB Bank purchased a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $26,000. Pacific Center for Financial Services increased its holdings in Novo Nordisk A/S by 100.0% in the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Valued Wealth Advisors LLC purchased a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $28,000. Bell Investment Advisors Inc increased its holdings in Novo Nordisk A/S by 79.9% in the 3rd quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares in the last quarter. Finally, Tyler Stone Wealth Management increased its holdings in Novo Nordisk A/S by 100.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock worth $27,000 after acquiring an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 1.2 %

NVO traded up $1.69 during trading on Wednesday, reaching $141.61. The company had a trading volume of 1,837,080 shares, compared to its average volume of 4,568,934. The stock has a market cap of $635.48 billion, a P/E ratio of 48.25, a PEG ratio of 1.40 and a beta of 0.41. The business has a 50 day simple moving average of $128.90 and a 200-day simple moving average of $118.40. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $142.41. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

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. The company had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NVO shares. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. BMO Capital Markets began coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They issued an “outperform” rating and a $163.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus target price of $137.33.

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.