Bessemer Group Inc. Lowers Position in Novo Nordisk A/S $NVO

Bessemer Group Inc. lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 79.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,233 shares of the company’s stock after selling 31,787 shares during the quarter. Bessemer Group Inc.’s holdings in Novo Nordisk A/S were worth $303,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Capital Investment Counsel LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $3,727,000. Marathon Capital Management boosted its position in Novo Nordisk A/S by 43.9% in the fourth quarter. Marathon Capital Management now owns 82,705 shares of the company’s stock worth $4,208,000 after purchasing an additional 25,230 shares during the last quarter. Banque Pictet & Cie SA grew its stake in Novo Nordisk A/S by 68.2% in the 4th quarter. Banque Pictet & Cie SA now owns 86,648 shares of the company’s stock valued at $4,409,000 after purchasing an additional 35,142 shares during the period. Burney Co. bought a new position in Novo Nordisk A/S in the 4th quarter valued at $1,374,000. Finally, Burkett Asset Management Ltd purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at $1,823,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wall Street Zen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Zacks Research downgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Citigroup restated a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday, July 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Novo Nordisk A/S in a research note on Monday, July 20th. Finally, HSBC reissued a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Five analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $65.56.

Novo Nordisk A/S Trading Down 0.0%

Shares of NVO opened at $48.76 on Monday. Novo Nordisk A/S has a fifty-two week low of $35.12 and a fifty-two week high of $71.79. The business has a 50-day moving average of $46.36 and a 200 day moving average of $45.67. The firm has a market cap of $217.71 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 4.45 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. The business had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.39 EPS for the current year.

Novo Nordisk A/S Company 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.