Harel Insurance Investments & Financial Services Ltd. Sells 9,027 Shares of Novo Nordisk A/S $NVO

Harel Insurance Investments & Financial Services Ltd. lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 72.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,370 shares of the company’s stock after selling 9,027 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Novo Nordisk A/S were worth $187,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in shares of Novo Nordisk A/S by 2,101.5% during the third quarter. SG Americas Securities LLC now owns 2,383,176 shares of the company’s stock valued at $132,242,000 after acquiring an additional 2,274,925 shares during the last quarter. Bank of Montreal Can increased its holdings in Novo Nordisk A/S by 101.4% in the second quarter. Bank of Montreal Can now owns 2,475,300 shares of the company’s stock valued at $170,845,000 after purchasing an additional 1,246,467 shares during the period. DAVENPORT & Co LLC increased its holdings in Novo Nordisk A/S by 54.8% in the third quarter. DAVENPORT & Co LLC now owns 2,642,498 shares of the company’s stock valued at $146,644,000 after purchasing an additional 935,468 shares during the period. Sustainable Growth Advisers LP lifted its holdings in Novo Nordisk A/S by 11.7% during the 2nd quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock worth $427,416,000 after buying an additional 649,390 shares during the period. Finally, Baird Financial Group Inc. lifted its holdings in Novo Nordisk A/S by 42.6% during the 2nd quarter. Baird Financial Group Inc. now owns 1,476,673 shares of the company’s stock worth $101,920,000 after buying an additional 441,034 shares during the period. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $62.32 on Tuesday. The business has a 50-day simple moving average of $51.18 and a 200 day simple moving average of $54.82. Novo Nordisk A/S has a one year low of $43.08 and a one year high of $93.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.57. The firm has a market capitalization of $278.26 billion, a price-to-earnings ratio of 18.12 and a beta of 0.66.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NVO shares. Jefferies Financial Group began coverage on Novo Nordisk A/S in a research note on Monday, October 27th. They issued an “underperform” rating for the company. Argus restated a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, December 8th. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. CICC Research started coverage on shares of Novo Nordisk A/S in a research report on Friday, January 9th. They set an “outperform” rating and a $73.50 price objective for the company. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Novo Nordisk A/S in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Hold” and an average price target of $56.21.

Novo Nordisk A/S Profile

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.