Novo Nordisk A/S $NVO Shares Sold by Choate Investment Advisors

Choate Investment Advisors decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 70.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 36,221 shares of the company’s stock after selling 84,348 shares during the period. Choate Investment Advisors’ holdings in Novo Nordisk A/S were worth $1,843,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital International Investors increased its position in Novo Nordisk A/S by 52.4% during the 3rd quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock worth $982,969,000 after purchasing an additional 6,092,192 shares during the period. Franklin Resources Inc. increased its position in Novo Nordisk A/S by 4,190.8% during the 3rd quarter. Franklin Resources Inc. now owns 13,984,789 shares of the company’s stock worth $776,016,000 after purchasing an additional 13,658,867 shares during the period. Folketrygdfondet increased its position in Novo Nordisk A/S by 1.2% during the 3rd quarter. Folketrygdfondet now owns 10,211,913 shares of the company’s stock worth $566,659,000 after purchasing an additional 117,370 shares during the period. State Street Corp increased its position in Novo Nordisk A/S by 1.0% during the 3rd quarter. State Street Corp now owns 6,106,836 shares of the company’s stock worth $340,125,000 after purchasing an additional 59,153 shares during the period. Finally, Boston Partners acquired a new position in Novo Nordisk A/S during the 3rd quarter worth approximately $310,199,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO opened at $44.91 on Tuesday. The stock has a market cap of $200.52 billion, a P/E ratio of 10.54, a P/E/G ratio of 4.01 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56. The stock’s 50 day simple moving average is $40.43 and its 200 day simple moving average is $46.42. Novo Nordisk A/S has a 1-year low of $35.12 and a 1-year high of $81.44.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share for the quarter. The business had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NVO. Jefferies Financial Group upgraded Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research report on Tuesday, February 24th. The Goldman Sachs Group restated a “neutral” rating and issued a $41.00 price target (down from $63.00) on shares of Novo Nordisk A/S in a report on Monday, March 2nd. Weiss Ratings cut Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Four research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $65.56.

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.