Red Door Wealth Management LLC Sells 496 Shares of Novo Nordisk A/S (NYSE:NVO)

Red Door Wealth Management LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 12.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,396 shares of the company’s stock after selling 496 shares during the quarter. Red Door Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $436,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. First PREMIER Bank bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at $25,000. CNB Bank bought a new position in Novo Nordisk A/S during the fourth quarter valued at about $26,000. Pacific Center for Financial Services lifted its position in shares of Novo Nordisk A/S by 100.0% in the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the 4th quarter worth about $28,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Novo Nordisk A/S during the 4th quarter valued at about $30,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on NVO. BMO Capital Markets reaffirmed an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. The Goldman Sachs Group started 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 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, June 17th. Finally, Argus increased their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Two 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. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S Stock Performance

NVO stock traded down $1.75 during trading on Friday, reaching $142.74. 2,757,544 shares of the stock were exchanged, compared to its average volume of 3,502,773. The stock has a 50 day simple moving average of $135.00 and a 200-day simple moving average of $123.54. 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 company has a market capitalization of $640.55 billion, a P/E ratio of 49.22, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.06. The company had revenue of $9.52 billion for the quarter, compared to analyst estimates 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, sell-side analysts anticipate that Novo Nordisk A/S will post 3.41 earnings per share for the current year.

About Novo Nordisk A/S

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.