Corient Private Wealth LLC Trims Position in Novo Nordisk A/S $NVO

Corient Private Wealth LLC trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.6% during the 4th quarter, Holdings Channel reports. The firm owned 709,353 shares of the company’s stock after selling 18,727 shares during the period. Corient Private Wealth LLC’s holdings in Novo Nordisk A/S were worth $36,097,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NVO. Franklin Resources Inc. boosted its holdings in Novo Nordisk A/S by 4,190.8% in the 3rd quarter. Franklin Resources Inc. now owns 13,984,789 shares of the company’s stock worth $776,016,000 after buying an additional 13,658,867 shares during the period. Capital International Investors lifted its position in shares of Novo Nordisk A/S by 52.4% in the third quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock valued at $982,969,000 after acquiring an additional 6,092,192 shares in the last quarter. Boston Partners bought a new position in shares of Novo Nordisk A/S in the third quarter worth about $310,199,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Novo Nordisk A/S by 99.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock worth $492,940,000 after acquiring an additional 4,836,285 shares during the period. Finally, Voloridge Investment Management LLC grew its position in shares of Novo Nordisk A/S by 851.6% during the fourth quarter. Voloridge Investment Management LLC now owns 4,807,279 shares of the company’s stock worth $244,594,000 after purchasing an additional 4,302,126 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Kepler Capital Markets cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Morgan Stanley raised shares of Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $40.00 price objective for the company in a report on Tuesday, March 3rd. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday. Sanford C. Bernstein began coverage on shares of Novo Nordisk A/S in a report on Wednesday, March 18th. They issued an “outperform” rating and a $175.00 target price on the stock. Finally, Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Five investment analysts have rated the stock with a Buy rating, seventeen have assigned 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 a consensus target price of $65.56.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $43.20 on Monday. The business’s 50-day moving average is $42.92 and its 200 day moving average is $45.83. Novo Nordisk A/S has a 12 month low of $35.12 and a 12 month high of $74.38. The company has a market capitalization of $192.89 billion, a P/E ratio of 10.14, a P/E/G ratio of 3.86 and a beta of 0.78. The company has a current ratio of 0.79, a quick ratio of 0.56 and a debt-to-equity ratio of 0.59.

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. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%.The business had revenue of $10.85 billion during the quarter. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.45 earnings per share for the current fiscal year.

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.