Beacon Pointe Advisors LLC Has $2.88 Million Stake in Novo Nordisk A/S $NVO

Beacon Pointe Advisors LLC trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 67.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 41,698 shares of the company’s stock after selling 86,461 shares during the period. Beacon Pointe Advisors LLC’s holdings in Novo Nordisk A/S were worth $2,878,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Stone House Investment Management LLC purchased a new position in Novo Nordisk A/S during the 1st quarter valued at about $30,000. NewSquare Capital LLC lifted its position 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 purchasing an additional 282 shares in the last quarter. Disciplina Capital Management LLC boosted its holdings in shares of Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after purchasing an additional 297 shares during the period. Dagco Inc. acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $35,000. Finally, Mid American Wealth Advisory Group Inc. purchased a new position in Novo Nordisk A/S during the second quarter valued at approximately $37,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. BNP Paribas upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. Dbs Bank raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Jefferies Financial Group started coverage on Novo Nordisk A/S in a report on Monday, October 27th. They set an “underperform” rating for the company. The Goldman Sachs Group reduced their price objective on Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, November 28th. Finally, Morgan Stanley restated an “underweight” rating and issued a $42.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Hold” and an average price target of $56.00.

Novo Nordisk A/S Stock Up 0.9%

NVO stock opened at $47.99 on Friday. Novo Nordisk A/S has a twelve month low of $43.08 and a twelve month high of $112.52. The company has a market cap of $214.28 billion, a PE ratio of 13.95 and a beta of 0.67. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The business’s 50-day simple moving average is $51.94 and its 200 day simple moving average is $59.25.

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

Novo Nordisk A/S Company 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.