Financial Partners Group LLC Reduces Stock Position in Novo Nordisk A/S (NYSE:NVO)

Financial Partners Group LLC lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 12.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,587 shares of the company’s stock after selling 1,044 shares during the quarter. Financial Partners Group LLC’s holdings in Novo Nordisk A/S were worth $974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Westside Investment Management Inc. boosted its stake in Novo Nordisk A/S by 83.3% in the 3rd quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock worth $130,000 after buying an additional 649 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Novo Nordisk A/S by 182.2% in the 3rd quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company’s stock worth $135,883,000 after buying an additional 964,640 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Novo Nordisk A/S by 38.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after buying an additional 26,067 shares during the last quarter. Advisor Resource Council acquired a new stake in Novo Nordisk A/S in the 4th quarter worth about $997,000. Finally, Procyon Advisors LLC lifted its stake in shares of Novo Nordisk A/S by 47.7% in the 4th quarter. Procyon Advisors LLC now owns 55,026 shares of the company’s stock valued at $5,692,000 after purchasing an additional 17,783 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 1.2 %

Novo Nordisk A/S stock traded down $1.75 during midday trading on Friday, hitting $142.74. 2,757,544 shares of the company were exchanged, compared to its average volume of 3,502,773. The company’s fifty day moving average price is $135.00 and its 200-day moving average price is $123.71. The company has a market cap of $640.55 billion, a PE ratio of 49.22, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly 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. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The firm had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.23 billion. On average, research analysts predict that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NVO shares. The Goldman Sachs Group started coverage on 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. Cantor Fitzgerald reaffirmed 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. Argus lifted their price objective 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. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.67.

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.