Novo Nordisk A/S $NVO Stake Lessened by Carnegie Investment Counsel

Carnegie Investment Counsel decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 5.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,869 shares of the company’s stock after selling 16,640 shares during the quarter. Carnegie Investment Counsel’s holdings in Novo Nordisk A/S were worth $15,142,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. NewSquare Capital LLC grew its stake in Novo Nordisk A/S by 174.1% during the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after acquiring an additional 282 shares in the last quarter. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth approximately $37,000. State of Wyoming purchased a new position in Novo Nordisk A/S during the first quarter valued at approximately $38,000. Maseco LLP acquired a new position in Novo Nordisk A/S in the 2nd quarter valued at approximately $39,000. Finally, Copeland Capital Management LLC lifted its position in Novo Nordisk A/S by 47.3% in the 2nd quarter. Copeland Capital Management LLC now owns 579 shares of the company’s stock worth $40,000 after buying an additional 186 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Down 0.5%

Shares of NVO stock opened at $52.29 on Friday. The firm has a market capitalization of $233.49 billion, a P/E ratio of 15.20 and a beta of 0.67. Novo Nordisk A/S has a 1 year low of $43.08 and a 1 year high of $93.80. The firm’s fifty day simple moving average is $49.35 and its 200 day simple moving average is $56.93. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on NVO. Weiss Ratings reiterated a “sell (d+)” rating on shares of Novo Nordisk A/S in a report on Monday. The Goldman Sachs Group reduced their price objective on shares of Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, November 28th. Jefferies Financial Group began coverage on shares of Novo Nordisk A/S in a report on Monday, October 27th. They issued an “underperform” rating for the company. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Novo Nordisk A/S in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Hold” and a consensus price target of $53.33.

Novo Nordisk A/S Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.