Advisor Resource Council Sells 6,481 Shares of Novo Nordisk A/S (NYSE:NVO)

Advisor Resource Council lowered its stake in Novo Nordisk A/S (NYSE:NVOFree Report) by 67.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,158 shares of the company’s stock after selling 6,481 shares during the quarter. Advisor Resource Council’s holdings in Novo Nordisk A/S were worth $405,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NVO. Kovack Advisors Inc. purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth about $810,000. Massachusetts Wealth Management raised its position in Novo Nordisk A/S by 18.7% during the 1st quarter. Massachusetts Wealth Management now owns 3,175 shares of the company’s stock valued at $408,000 after purchasing an additional 500 shares during the last quarter. DMC Group LLC lifted its holdings in Novo Nordisk A/S by 7.6% in the 1st quarter. DMC Group LLC now owns 13,402 shares of the company’s stock worth $1,721,000 after buying an additional 951 shares during the period. Abundance Wealth Counselors grew its position in shares of Novo Nordisk A/S by 13.4% in the 1st quarter. Abundance Wealth Counselors now owns 3,813 shares of the company’s stock worth $490,000 after buying an additional 451 shares during the last quarter. Finally, Norden Group LLC increased its stake in shares of Novo Nordisk A/S by 2,456.0% during the first quarter. Norden Group LLC now owns 658,856 shares of the company’s stock valued at $84,597,000 after buying an additional 633,079 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $138.87 on Friday. The stock has a market cap of $623.18 billion, a price-to-earnings ratio of 47.89, a PEG ratio of 1.37 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 1 year low of $75.56 and a 1 year high of $148.15. The firm’s 50-day moving average is $135.95 and its 200 day moving average is $124.47.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last posted 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. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The business had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.23 billion. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Argus raised 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. BMO Capital Markets reaffirmed an “outperform” rating and issued a $163.00 target price on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday. Finally, The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued 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 an average price target of $145.67.

Check Out Our Latest Stock Analysis on Novo Nordisk A/S

Novo Nordisk A/S Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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