Eqis Capital Management Inc. reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 13.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,550 shares of the company’s stock after selling 898 shares during the period. Eqis Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $385,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Shine Investment Advisory Services Inc. purchased a new stake in Novo Nordisk A/S during the second quarter worth about $25,000. Simon Quick Advisors LLC bought a new stake in Novo Nordisk A/S during the third quarter valued at approximately $28,000. Clear Harbor Asset Management LLC bought a new stake in Novo Nordisk A/S during the third quarter valued at approximately $28,000. NEXT Financial Group Inc bought a new stake in Novo Nordisk A/S during the third quarter valued at approximately $30,000. Finally, JJJ Advisors Inc. bought a new stake in Novo Nordisk A/S during the third quarter valued at approximately $45,000. 6.08% of the stock is currently owned by institutional investors.
Several equities research analysts have issued reports on the stock. Berenberg Bank began coverage on shares of Novo Nordisk A/S in a research report on Tuesday, September 29th. They set a “hold” rating for the company. UBS Group restated a “neutral” rating on shares of Novo Nordisk A/S in a report on Tuesday, August 18th. Societe Generale restated a “sell” rating on shares of Novo Nordisk A/S in a report on Tuesday, November 3rd. Morgan Stanley lowered shares of Novo Nordisk A/S from an “equal weight” rating to an “underweight” rating in a report on Friday, November 6th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of Novo Nordisk A/S in a report on Thursday, November 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $72.00.
Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.01. Novo Nordisk A/S had a net margin of 32.65% and a return on equity of 71.46%. Equities research analysts anticipate that Novo Nordisk A/S will post 2.74 earnings per share for the current year.
Novo Nordisk A/S Company Profile
Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharmaceuticals. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases.
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