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

Channel Wealth LLC reduced its position in Novo Nordisk A/S (NYSE:NVO) by 67.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,598 shares of the company’s stock after selling 43,113 shares during the period. Channel Wealth LLC’s holdings in Novo Nordisk A/S were worth $1,143,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NVO. Kingstone Capital Partners Texas LLC raised its holdings in Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after buying an additional 10,001,898 shares during the period. Amundi increased its position in shares of Novo Nordisk A/S by 49.1% in the first quarter. Amundi now owns 4,938,507 shares of the company’s stock worth $331,576,000 after acquiring an additional 1,627,051 shares in the last quarter. Bank of Montreal Can increased its position in shares of Novo Nordisk A/S by 101.4% in the second quarter. Bank of Montreal Can now owns 2,475,300 shares of the company’s stock worth $170,845,000 after acquiring an additional 1,246,467 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after acquiring an additional 1,038,137 shares during the period. Finally, Sustainable Growth Advisers LP lifted its holdings in shares of Novo Nordisk A/S by 11.7% during the 2nd quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock valued at $427,416,000 after acquiring an additional 649,390 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 2.4%

NVO opened at $47.77 on Thursday. Novo Nordisk A/S has a 12-month low of $43.08 and a 12-month high of $109.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.57. The stock has a market capitalization of $213.28 billion, a PE ratio of 13.89 and a beta of 0.67. The firm’s fifty day moving average price is $50.23 and its 200 day moving average price is $57.93.

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley reiterated an “underweight” rating and issued a $42.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, December 3rd. Argus reiterated a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, December 8th. HSBC reissued a “hold” rating and set a $54.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, December 10th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Finally, The Goldman Sachs Group reduced their target price on shares of Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $53.33.

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.