Novo Nordisk A/S (NYSE:NVO) Position Cut by First Allied Advisory Services Inc.

25 May 2020, 12:48 by Danessa Lincoln

First Allied Advisory Services Inc. trimmed its stake in Novo Nordisk A/S (NYSE:NVO) by 13.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,233 shares of the company’s stock after selling 936 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Novo Nordisk A/S were worth $375,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Davis R M Inc. lifted its stake in Novo Nordisk A/S by 5.7% in the first quarter. Davis R M Inc. now owns 4,491 shares of the company’s stock valued at $270,000 after buying an additional 241 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Novo Nordisk A/S by 1.4% in the fourth quarter. Baird Financial Group Inc. now owns 721,833 shares of the company’s stock valued at $41,780,000 after buying an additional 9,937 shares during the last quarter. Conning Inc. bought a new stake in Novo Nordisk A/S in the fourth quarter valued at $266,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Novo Nordisk A/S by 128.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 594,205 shares of the company’s stock valued at $34,393,000 after buying an additional 333,675 shares during the last quarter. Finally, FMR LLC lifted its stake in Novo Nordisk A/S by 4.1% in the fourth quarter. FMR LLC now owns 477,399 shares of the company’s stock valued at $27,632,000 after buying an additional 18,803 shares during the last quarter. Institutional investors own 6.69% of the company’s stock.

A number of equities research analysts have issued reports on NVO shares. UBS Group cut Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Monday, May 11th. Morgan Stanley reissued an “equal weight” rating on shares of Novo Nordisk A/S in a report on Monday, May 18th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Novo Nordisk A/S in a report on Wednesday, May 13th. Societe Generale reissued a “sell” rating on shares of Novo Nordisk A/S in a report on Thursday, May 7th. Finally, Bank of America raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Monday, March 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $163.55.

NYSE:NVO opened at $64.83 on Monday. The business’s 50-day moving average price is $62.50 and its 200 day moving average price is $59.52. The firm has a market cap of $152.66 billion, a P/E ratio of 25.42, a PEG ratio of 2.35 and a beta of 0.46. Novo Nordisk A/S has a 52-week low of $46.85 and a 52-week high of $66.02. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.05.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, May 6th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $4.70 billion. Novo Nordisk A/S had a return on equity of 73.87% and a net margin of 31.91%. Sell-side analysts expect that Novo Nordisk A/S will post 2.67 EPS for the current year.

Novo Nordisk A/S Profile

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.