Novo Nordisk A/S (NYSE:NVO) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,436 shares of the company’s stock after selling 470 shares during the period. New York State Common Retirement Fund’s holdings in Novo Nordisk A/S were worth $6,045,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in shares of Novo Nordisk A/S by 107.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 196,053 shares of the company’s stock worth $17,829,000 after purchasing an additional 101,509 shares during the last quarter. Xponance Inc. acquired a new stake in Novo Nordisk A/S during the third quarter valued at approximately $248,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Novo Nordisk A/S by 145.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 359,771 shares of the company’s stock worth $32,718,000 after buying an additional 213,360 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Novo Nordisk A/S by 228.9% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 17,857 shares of the company’s stock worth $1,624,000 after acquiring an additional 12,427 shares in the last quarter. Finally, Stratos Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at approximately $237,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $123.08 on Friday. The firm has a market capitalization of $552.33 billion, a PE ratio of 45.50, a P/E/G ratio of 2.16 and a beta of 0.43. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $127.21 and a 200 day moving average price of $112.77. Novo Nordisk A/S has a 52-week low of $75.56 and a 52-week high of $138.28.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The business had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.14 billion. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on NVO. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, April 18th. UBS Group started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets started coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They issued an “outperform” rating and a $163.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $133.60.

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.