Novo Nordisk A/S (NYSE:NVO) Stock Holdings Reduced by Everett Harris & Co. CA

Everett Harris & Co. CA reduced its position in Novo Nordisk A/S (NYSE:NVO) by 0.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,497,372 shares of the company’s stock after selling 15,417 shares during the period. Novo Nordisk A/S makes up approximately 11.1% of Everett Harris & Co. CA’s holdings, making the stock its 2nd largest holding. Everett Harris & Co. CA’s holdings in Novo Nordisk A/S were worth $834,263,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Novo Nordisk A/S by 245.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 68,477 shares of the company’s stock valued at $6,227,000 after buying an additional 48,678 shares in the last quarter. Bank of Nova Scotia bought a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at $263,000. Toronto Dominion Bank lifted its holdings in Novo Nordisk A/S by 93.3% during the 3rd quarter. Toronto Dominion Bank now owns 45,912 shares of the company’s stock worth $4,175,000 after purchasing an additional 22,165 shares in the last quarter. Ancora Advisors LLC boosted its stake in Novo Nordisk A/S by 100.0% in the 3rd quarter. Ancora Advisors LLC now owns 2,538 shares of the company’s stock worth $231,000 after purchasing an additional 1,269 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Novo Nordisk A/S by 142.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 45,625 shares of the company’s stock valued at $4,149,000 after buying an additional 26,843 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

NVO stock traded down $4.11 during midday trading on Thursday, reaching $138.87. The company had a trading volume of 7,455,753 shares, compared to its average volume of 3,491,449. The firm has a 50-day moving average price of $135.95 and a 200-day moving average price of $124.47. The company has a market capitalization of $623.18 billion, a P/E ratio of 47.89, a P/E/G ratio of 1.41 and a beta of 0.41. Novo Nordisk A/S has a 1 year low of $75.56 and a 1 year high of $148.15. 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 (NYSE:NVO) last announced 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 company had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.23 billion. On average, research analysts anticipate that Novo Nordisk A/S will post 3.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVO. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday. BMO Capital Markets reiterated an “outperform” rating and issued a $163.00 target price on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Argus boosted their price target 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. Finally, The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. Two investment 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.