Independent Advisor Alliance Sells 22,441 Shares of Novo Nordisk A/S $NVO

Independent Advisor Alliance trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 37.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,945 shares of the company’s stock after selling 22,441 shares during the period. Independent Advisor Alliance’s holdings in Novo Nordisk A/S were worth $2,106,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. True Wealth Design LLC increased its stake in Novo Nordisk A/S by 209.8% in the 3rd quarter. True Wealth Design LLC now owns 443 shares of the company’s stock worth $25,000 after buying an additional 300 shares in the last quarter. NewSquare Capital LLC boosted its stake in shares of Novo Nordisk A/S by 174.1% in the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after acquiring an additional 282 shares during the period. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the second quarter worth about $37,000. Steigerwald Gordon & Koch Inc. bought a new stake in Novo Nordisk A/S during the 3rd quarter valued at approximately $39,000. Finally, Quent Capital LLC purchased a new position in Novo Nordisk A/S in the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVO. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novo Nordisk A/S in a report on Monday, December 29th. Citigroup started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 27th. They issued a “neutral” rating on the stock. Argus reissued a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, December 8th. Hsbc Global Res lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, CICC Research assumed coverage on Novo Nordisk A/S in a report on Friday, January 9th. They issued an “outperform” rating and a $73.50 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of “Hold” and a consensus target price of $57.79.

Novo Nordisk A/S Stock Down 0.7%

Shares of NYSE:NVO opened at $59.01 on Tuesday. The company has a market cap of $263.46 billion, a price-to-earnings ratio of 17.15 and a beta of 0.66. Novo Nordisk A/S has a 12 month low of $43.08 and a 12 month high of $93.80. 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 has a 50-day moving average price of $53.72 and a 200 day moving average price of $54.28.

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

About Novo Nordisk A/S

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.