Nisa Investment Advisors LLC Trims Stock Position in Novo Nordisk A/S (NYSE:NVO)

Nisa Investment Advisors LLC decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 40.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 900 shares of the company’s stock after selling 600 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Novo Nordisk A/S were worth $63,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVO. North Star Investment Management Corp. increased its position in Novo Nordisk A/S by 18.2% during the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company’s stock worth $1,440,000 after buying an additional 3,200 shares during the period. Bank of New York Mellon Corp grew its position in shares of Novo Nordisk A/S by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company’s stock worth $58,316,000 after acquiring an additional 47,804 shares during the last quarter. Stanley Laman Group Ltd. acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $390,000. Dover Advisors LLC purchased a new stake in Novo Nordisk A/S in the 1st quarter valued at $505,000. Finally, Meridian Investment Counsel Inc. boosted its stake in Novo Nordisk A/S by 95.4% during the 4th quarter. Meridian Investment Counsel Inc. now owns 45,697 shares of the company’s stock worth $3,931,000 after purchasing an additional 22,314 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $64.32 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $70.34 and its two-hundred day moving average is $74.38. Novo Nordisk A/S has a 12-month low of $57.00 and a 12-month high of $139.74. The stock has a market capitalization of $287.19 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.26 and a beta of 0.64.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. The firm had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. Research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVO. Dbs Bank lowered shares of Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. BNP Paribas started coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They set an “underperform” rating on the stock. Guggenheim downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. Wall Street Zen upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $64.00 target price (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S has an average rating of “Hold” and an average price target of $112.00.

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.