Envestnet Portfolio Solutions Inc. Sells 9,385 Shares of Novo Nordisk A/S $NVO

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 18.4% in the third quarter, HoldingsChannel reports. The firm owned 41,485 shares of the company’s stock after selling 9,385 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Novo Nordisk A/S were worth $2,302,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of NVO. Jennison Associates LLC grew its holdings in shares of Novo Nordisk A/S by 0.3% during the second quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock worth $1,303,466,000 after purchasing an additional 63,341 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in Novo Nordisk A/S by 1.5% during the 2nd quarter. Loomis Sayles & Co. L P now owns 12,576,031 shares of the company’s stock worth $867,998,000 after buying an additional 187,789 shares in the last quarter. Sustainable Growth Advisers LP grew 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 acquiring an additional 649,390 shares during the last quarter. State Street Corp increased its position in Novo Nordisk A/S by 0.8% in the 2nd quarter. State Street Corp now owns 6,047,683 shares of the company’s stock valued at $418,231,000 after acquiring an additional 47,430 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its stake in shares of 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 worth $146,644,000 after acquiring an additional 935,468 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NVO. Weiss Ratings reissued a “sell (d+)” rating on shares of Novo Nordisk A/S in a research note on Monday, December 29th. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. The Goldman Sachs Group restated a “buy” rating on shares of Novo Nordisk A/S in a research report on Thursday. Argus reiterated a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, December 8th. Finally, Hsbc Global Res lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Hold” and an average price target of $57.79.

Novo Nordisk A/S Stock Up 2.7%

NYSE:NVO opened at $63.96 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 12-month low of $43.08 and a 12-month high of $93.80. The stock’s fifty day simple moving average is $52.44 and its 200-day simple moving average is $54.54. The firm has a market capitalization of $285.58 billion, a P/E ratio of 18.59 and a beta of 0.66.

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

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.