ARS Investment Partners LLC Sells 19,504 Shares of Novo Nordisk A/S $NVO

ARS Investment Partners LLC reduced its position in Novo Nordisk A/S (NYSE:NVO) by 11.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 149,056 shares of the company’s stock after selling 19,504 shares during the period. ARS Investment Partners LLC’s holdings in Novo Nordisk A/S were worth $5,478,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVO. Smith Chas P & Associates PA Cpas raised its stake in Novo Nordisk A/S by 105.3% in the 3rd quarter. Smith Chas P & Associates PA Cpas now owns 405,425 shares of the company’s stock valued at $22,497,000 after acquiring an additional 207,959 shares during the period. Clifford Swan Investment Counsel LLC boosted its position in Novo Nordisk A/S by 13.7% during the third quarter. Clifford Swan Investment Counsel LLC now owns 311,168 shares of the company’s stock worth $17,267,000 after purchasing an additional 37,453 shares during the period. Quantbot Technologies LP bought a new position in Novo Nordisk A/S during the third quarter worth $3,171,000. CIBC Bancorp USA Inc. acquired a new position in shares of Novo Nordisk A/S in the third quarter valued at $19,519,000. Finally, Romano Brothers AND Company increased its holdings in shares of Novo Nordisk A/S by 704.0% in the fourth quarter. Romano Brothers AND Company now owns 34,236 shares of the company’s stock valued at $1,742,000 after purchasing an additional 29,978 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 0.0%

NVO stock opened at $43.20 on Friday. Novo Nordisk A/S has a fifty-two week low of $35.12 and a fifty-two week high of $74.38. 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 has a market capitalization of $192.89 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 3.86 and a beta of 0.78. The business’s fifty day moving average price is $42.92 and its two-hundred day moving average price is $45.85.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The company had revenue of $10.85 billion during the quarter. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVO. Nordea Equity Research raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Friday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $41.00 target price (down from $63.00) on shares of Novo Nordisk A/S in a report on Monday, March 2nd. TD Cowen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a research note on Tuesday, March 10th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novo Nordisk A/S in a report on Tuesday, February 24th. Finally, Sanford C. Bernstein started coverage on shares of Novo Nordisk A/S in a research report on Wednesday, March 18th. They set an “outperform” rating and a $175.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Hold” and an average target price of $65.56.

Novo Nordisk A/S Company 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.