Means Investment CO. Inc. Sells 34,124 Shares of Novo Nordisk A/S (NYSE:NVO)

Means Investment CO. Inc. lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 68.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,016 shares of the company’s stock after selling 34,124 shares during the quarter. Means Investment CO. Inc.’s holdings in Novo Nordisk A/S were worth $1,112,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NVO. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Park Square Financial Group LLC bought a new position in Novo Nordisk A/S in the 4th quarter valued at approximately $29,000. Transce3nd LLC acquired a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $33,000. CX Institutional acquired a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $36,000. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $39,000. Institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Dbs Bank downgraded shares of Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Guggenheim downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. BMO Capital Markets reiterated a “market perform” rating and set a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Finally, Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $112.00.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $74.03 on Friday. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. The company’s 50 day moving average price is $68.23 and its 200-day moving average price is $78.93.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. The firm had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. Research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Profile

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.