Capital International Investors Cuts Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Capital International Investors lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 7,085,333 shares of the company’s stock after selling 29,598 shares during the period. Capital International Investors’ holdings in Novo Nordisk A/S were worth $909,757,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after buying an additional 26,067 shares during the last quarter. Procyon Advisors LLC lifted its position in Novo Nordisk A/S by 47.7% during the fourth quarter. Procyon Advisors LLC now owns 55,026 shares of the company’s stock valued at $5,692,000 after acquiring an additional 17,783 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its position in Novo Nordisk A/S by 37.0% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 60,356 shares of the company’s stock valued at $6,244,000 after acquiring an additional 16,293 shares during the last quarter. Harbour Trust & Investment Management Co acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at approximately $6,105,000. Finally, Bank of New Hampshire grew its holdings in Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after purchasing an additional 12,347 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Novo Nordisk A/S Stock Performance

NVO traded down $1.14 on Friday, reaching $126.72. 3,178,103 shares of the stock were exchanged, compared to its average volume of 4,424,668. 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 company’s 50-day moving average price is $138.69 and its 200 day moving average price is $128.26. The firm has a market capitalization of $568.66 billion, a PE ratio of 43.70, a PEG ratio of 1.32 and a beta of 0.41. Novo Nordisk A/S has a fifty-two week low of $77.96 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The firm 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, sell-side analysts forecast that Novo Nordisk A/S will post 3.38 EPS for the current fiscal year.

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.