Carnegie Investment Counsel Sells 16,640 Shares of Novo Nordisk A/S $NVO

Carnegie Investment Counsel trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,869 shares of the company’s stock after selling 16,640 shares during the quarter. Carnegie Investment Counsel’s holdings in Novo Nordisk A/S were worth $15,142,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NVO. Griffin Asset Management Inc. lifted its holdings in shares of Novo Nordisk A/S by 3.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 8,242 shares of the company’s stock worth $457,000 after acquiring an additional 242 shares during the period. HBW Advisory Services LLC raised its holdings in shares of Novo Nordisk A/S by 132.9% in the 3rd quarter. HBW Advisory Services LLC now owns 8,019 shares of the company’s stock worth $445,000 after buying an additional 4,576 shares in the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of Novo Nordisk A/S by 2.9% during the third quarter. HBK Sorce Advisory LLC now owns 11,164 shares of the company’s stock valued at $633,000 after acquiring an additional 313 shares during the period. DecisionMap Wealth Management LLC boosted its position in Novo Nordisk A/S by 26.9% in the third quarter. DecisionMap Wealth Management LLC now owns 10,682 shares of the company’s stock valued at $593,000 after buying an additional 2,264 shares in the last quarter. Finally, Mirabaud & Cie SA grew its position in Novo Nordisk A/S by 33.3% during the 3rd quarter. Mirabaud & Cie SA now owns 10,000 shares of the company’s stock worth $555,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. The Goldman Sachs Group cut 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. Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Zacks Research downgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 3rd. Finally, Morgan Stanley reiterated an “underweight” rating and set a $42.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $53.33.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $52.29 on Friday. The stock has a market cap of $233.49 billion, a P/E ratio of 15.20 and a beta of 0.67. Novo Nordisk A/S has a 1 year low of $43.08 and a 1 year high of $93.80. The stock’s 50-day moving average price is $49.35 and its two-hundred day moving average price is $56.93. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last announced 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 net margin of 32.76% and a return on equity of 73.50%. The business had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.98 billion. On average, equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

About Novo Nordisk A/S

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.