Coronation Fund Managers Ltd. Sells 90,800 Shares of Novo Nordisk A/S (NYSE:NVO)

Coronation Fund Managers Ltd. reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 78.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,494 shares of the company’s stock after selling 90,800 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Novo Nordisk A/S were worth $3,145,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Cravens & Co Advisors LLC raised its holdings in Novo Nordisk A/S by 1.0% in the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after purchasing an additional 85 shares during the period. Sage Rhino Capital LLC raised its holdings in shares of Novo Nordisk A/S by 0.7% during the first quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock worth $1,582,000 after acquiring an additional 89 shares during the period. U.S. Capital Wealth Advisors LLC raised its holdings in shares of Novo Nordisk A/S by 0.6% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock worth $1,595,000 after acquiring an additional 90 shares during the period. Clarius Group LLC raised its holdings in shares of Novo Nordisk A/S by 0.5% during the fourth quarter. Clarius Group LLC now owns 18,505 shares of the company’s stock worth $1,914,000 after acquiring an additional 93 shares during the period. Finally, Tradewinds Capital Management LLC grew its position in Novo Nordisk A/S by 2.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 4,955 shares of the company’s stock valued at $513,000 after purchasing an additional 95 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Shares of NVO stock traded up $2.31 during midday trading on Wednesday, hitting $142.74. 2,923,436 shares of the company were exchanged, compared to its average volume of 4,451,784. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $148.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The firm’s 50 day moving average price is $137.09 and its two-hundred day moving average price is $125.76. The firm has a market capitalization of $640.55 billion, a P/E ratio of 48.70, a PEG ratio of 1.41 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last issued 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. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The business had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. As a group, equities research analysts anticipate that Novo Nordisk A/S will post 3.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NVO shares. Argus raised their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, July 1st. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $145.67.

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.