Confluence Investment Management LLC Sells 1,210 Shares of Novo Nordisk A/S (NYSE:NVO)

Confluence Investment Management LLC trimmed its stake in Novo Nordisk A/S (NYSE:NVO) by 10.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,054 shares of the company’s stock after selling 1,210 shares during the period. Confluence Investment Management LLC’s holdings in Novo Nordisk A/S were worth $1,197,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NVO. Wealth Enhancement Advisory Services LLC boosted its holdings in Novo Nordisk A/S by 14.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after acquiring an additional 37,346 shares during the last quarter. Private Wealth Partners LLC increased its position in shares of Novo Nordisk A/S by 155.1% during the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock worth $3,953,000 after buying an additional 20,188 shares during the period. Independence Bank of Kentucky raised its stake in Novo Nordisk A/S by 192.7% during the third quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after buying an additional 7,565 shares during the last quarter. Traynor Capital Management Inc. boosted its position in Novo Nordisk A/S by 3.4% during the third quarter. Traynor Capital Management Inc. now owns 305,404 shares of the company’s stock valued at $36,364,000 after acquiring an additional 10,019 shares during the last quarter. Finally, Channel Wealth LLC grew its holdings in Novo Nordisk A/S by 15.6% during the 3rd quarter. Channel Wealth LLC now owns 57,353 shares of the company’s stock worth $6,829,000 after acquiring an additional 7,756 shares during the period. 11.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVO. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Trading Down 0.4 %

NYSE NVO opened at $107.23 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week high of $148.15. The business has a 50 day moving average price of $121.42 and a 200-day moving average price of $130.30. The company has a market cap of $481.20 billion, a price-to-earnings ratio of 34.70, a P/E/G ratio of 1.44 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 89.69% and a net margin of 35.03%. As a group, equities analysts expect that Novo Nordisk A/S will post 2.87 earnings per share for the current fiscal year.

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.