Novo Nordisk A/S $NVO Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,051,405 shares of the company’s stock after selling 73,013 shares during the quarter. Corient Private Wealth LLC’s holdings in Novo Nordisk A/S were worth $72,568,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NewSquare Capital LLC grew its position in Novo Nordisk A/S by 174.1% during the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after buying an additional 282 shares during the period. Disciplina Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 162.3% during the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after acquiring an additional 297 shares during the period. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the 2nd quarter worth approximately $37,000. State of Wyoming acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter worth approximately $38,000. Finally, Maseco LLP purchased a new position in Novo Nordisk A/S in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the topic of several research reports. HSBC reissued a “hold” rating and issued a $54.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, December 10th. TD Cowen decreased their price objective on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. The Goldman Sachs Group dropped their target price on shares of Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating for the company in a report on Friday, November 28th. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Finally, Zacks Research lowered shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.33.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $50.38 on Tuesday. The firm has a market cap of $224.93 billion, a price-to-earnings ratio of 14.64 and a beta of 0.67. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average is $50.67 and its two-hundred day moving average is $58.16. Novo Nordisk A/S has a 12-month low of $43.08 and a 12-month high of $109.88.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. The business had revenue of $11.79 billion during the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. Research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

About Novo Nordisk A/S

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.