Stokes Capital Advisors LLC Sells 300 Shares of Novo Nordisk A/S (NYSE:NVO)

Stokes Capital Advisors LLC lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,180 shares of the company’s stock after selling 300 shares during the quarter. Stokes Capital Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,436,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Lockerman Financial Group Inc. bought a new stake in Novo Nordisk A/S during the first quarter worth approximately $317,000. Chesley Taft & Associates LLC boosted its position in Novo Nordisk A/S by 2.4% during the first quarter. Chesley Taft & Associates LLC now owns 4,245 shares of the company’s stock worth $545,000 after purchasing an additional 100 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Novo Nordisk A/S by 91.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 205,698 shares of the company’s stock worth $26,412,000 after purchasing an additional 98,007 shares during the period. Procyon Advisors LLC grew its stake in shares of Novo Nordisk A/S by 4.2% in the first quarter. Procyon Advisors LLC now owns 57,342 shares of the company’s stock worth $7,363,000 after acquiring an additional 2,316 shares during the last quarter. Finally, Cardinal Capital Management grew its stake in shares of Novo Nordisk A/S by 2.1% in the first quarter. Cardinal Capital Management now owns 68,729 shares of the company’s stock worth $8,887,000 after acquiring an additional 1,422 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the topic of several research analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a research note on Tuesday. Argus raised their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, June 17th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.67.

Novo Nordisk A/S Stock Performance

NVO stock traded down $0.35 during midday trading on Friday, hitting $144.14. The stock had a trading volume of 753,504 shares, compared to its average volume of 4,431,940. The firm has a market capitalization of $646.83 billion, a price-to-earnings ratio of 49.91, a P/E/G ratio of 1.43 and a beta of 0.41. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $148.15. The stock has a 50-day simple moving average of $134.16 and a 200 day simple moving average of $122.88. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. The firm had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. As a group, equities research analysts anticipate that Novo Nordisk A/S will post 3.41 earnings per share for the current year.

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.