Valley National Advisers Inc. Sells 4,629 Shares of Novo Nordisk A/S (NYSE:NVO)

Valley National Advisers Inc. lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 25.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,519 shares of the company’s stock after selling 4,629 shares during the period. Valley National Advisers Inc.’s holdings in Novo Nordisk A/S were worth $1,735,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Morgan Stanley boosted its stake in shares of Novo Nordisk A/S by 96.5% during the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after purchasing an additional 4,526,199 shares during the period. Folketrygdfondet raised its holdings in Novo Nordisk A/S by 1.4% in the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock worth $1,124,275,000 after purchasing an additional 124,770 shares in the last quarter. Capital International Investors raised its holdings in Novo Nordisk A/S by 22.3% in the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after purchasing an additional 1,297,536 shares in the last quarter. Royal Bank of Canada raised its holdings in Novo Nordisk A/S by 109.2% in the third quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock worth $331,300,000 after purchasing an additional 1,901,429 shares in the last quarter. Finally, Natixis Advisors L.P. raised its holdings in Novo Nordisk A/S by 1.8% in the fourth quarter. Natixis Advisors L.P. now owns 3,052,406 shares of the company’s stock worth $315,770,000 after purchasing an additional 55,333 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 2.7 %

Shares of Novo Nordisk A/S stock traded down $3.87 on Wednesday, reaching $139.11. 7,455,753 shares of the company were exchanged, compared to its average volume of 4,481,115. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $148.15. The company has a market cap of $624.26 billion, a P/E ratio of 48.68, 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. The stock’s 50 day moving average price is $135.69 and its 200-day moving average price is $124.37.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective on the stock. BMO Capital Markets reiterated 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday. Finally, Argus lifted their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus price target 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.