Novo Nordisk A/S (NYSE:NVO) Shares Sold by Grandfield & Dodd LLC

Grandfield & Dodd LLC reduced its position in Novo Nordisk A/S (NYSE:NVO) by 15.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,754 shares of the company’s stock after selling 1,980 shares during the quarter. Grandfield & Dodd LLC’s holdings in Novo Nordisk A/S were worth $1,381,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of NVO. Folketrygdfondet lifted its holdings in Novo Nordisk A/S by 1.4% in the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after purchasing an additional 124,770 shares in the last quarter. Capital International Investors lifted its holdings in Novo Nordisk A/S by 22.3% in the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after purchasing an additional 1,297,536 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Novo Nordisk A/S by 12.1% during the 1st quarter. Raymond James & Associates now owns 3,143,731 shares of the company’s stock worth $403,655,000 after acquiring an additional 340,549 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of Novo Nordisk A/S by 1.8% during the 4th quarter. Natixis Advisors L.P. now owns 3,052,406 shares of the company’s stock worth $315,770,000 after acquiring an additional 55,333 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in shares of Novo Nordisk A/S by 4.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,314,261 shares of the company’s stock worth $239,410,000 after acquiring an additional 89,152 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

NYSE NVO traded down $2.95 during trading on Thursday, reaching $139.79. The company’s stock had a trading volume of 3,836,482 shares, compared to its average volume of 4,448,043. The firm has a 50 day moving average price of $137.68 and a 200 day moving average price of $125.97. The firm has a market capitalization of $627.31 billion, a price-to-earnings ratio of 48.20, a price-to-earnings-growth ratio of 1.41 and a beta of 0.41. 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 has a 12 month low of $75.96 and a 12 month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $9.23 billion. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NVO shares. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Argus boosted their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. BMO Capital Markets reissued an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, July 1st. Two investment 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 company. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average target price of $145.67.

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.