Independent Advisor Alliance Trims Stake in Novo Nordisk A/S $NVO

Independent Advisor Alliance lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 37.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,945 shares of the company’s stock after selling 22,441 shares during the period. Independent Advisor Alliance’s holdings in Novo Nordisk A/S were worth $2,106,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Revolve Wealth Partners LLC boosted its holdings in Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after acquiring an additional 200 shares during the period. AQR Capital Management LLC boosted its stake in shares of Novo Nordisk A/S by 21.0% during the first quarter. AQR Capital Management LLC now owns 62,099 shares of the company’s stock valued at $4,312,000 after purchasing an additional 10,758 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Novo Nordisk A/S by 18.2% in the second quarter. Sivia Capital Partners LLC now owns 10,320 shares of the company’s stock worth $712,000 after purchasing an additional 1,587 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Novo Nordisk A/S by 3.6% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,760 shares of the company’s stock worth $467,000 after buying an additional 232 shares during the period. Finally, Ameritas Advisory Services LLC lifted its holdings in Novo Nordisk A/S by 41.1% during the 2nd quarter. Ameritas Advisory Services LLC now owns 4,977 shares of the company’s stock valued at $344,000 after buying an additional 1,449 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO opened at $59.01 on Tuesday. The company has a market cap of $263.46 billion, a P/E ratio of 17.15 and a beta of 0.66. 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 firm’s 50-day moving average price is $53.72 and its 200-day moving average price is $54.28. Novo Nordisk A/S has a 52-week low of $43.08 and a 52-week high of $93.80.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NVO shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Novo Nordisk A/S in a report on Thursday, January 22nd. Hsbc Global Res downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. CICC Research began coverage on Novo Nordisk A/S in a research note on Friday, January 9th. They set an “outperform” rating and a $73.50 price target on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $42.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, December 3rd. Finally, Argus reissued a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $57.79.

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.