Cerity Partners LLC Has $58.01 Million Holdings in Novo Nordisk A/S $NVO

Cerity Partners LLC decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 8.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 854,222 shares of the company’s stock after selling 73,991 shares during the period. Cerity Partners LLC’s holdings in Novo Nordisk A/S were worth $58,009,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Gamco Investors INC. ET AL acquired a new stake in Novo Nordisk A/S during the 2nd quarter valued at $314,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Novo Nordisk A/S by 15.1% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 2,446 shares of the company’s stock worth $169,000 after purchasing an additional 320 shares during the last quarter. Avestar Capital LLC increased its stake in shares of Novo Nordisk A/S by 6.9% in the second quarter. Avestar Capital LLC now owns 5,167 shares of the company’s stock valued at $357,000 after buying an additional 334 shares in the last quarter. SCS Capital Management LLC raised its holdings in shares of Novo Nordisk A/S by 30.3% in the second quarter. SCS Capital Management LLC now owns 9,299 shares of the company’s stock valued at $642,000 after buying an additional 2,164 shares during the last quarter. Finally, GeoWealth Management LLC lifted its position in Novo Nordisk A/S by 43.1% during the 2nd quarter. GeoWealth Management LLC now owns 15,192 shares of the company’s stock worth $1,049,000 after buying an additional 4,575 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO opened at $47.92 on Monday. The company has a fifty day moving average price of $51.78 and a two-hundred day moving average price of $58.99. The firm has a market capitalization of $213.96 billion, a PE ratio of 13.93 and a beta of 0.67. Novo Nordisk A/S has a 52 week low of $43.08 and a 52 week high of $112.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on NVO. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research report on Wednesday, August 13th. Zacks Research lowered shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 3rd. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $50.00 to $46.00 and set a “market perform” rating on the stock in a report on Tuesday, November 25th. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Finally, Morgan Stanley restated an “underweight” rating and set a $42.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.00.

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.