Moran Wealth Management LLC Reduces Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Moran Wealth Management LLC lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 44.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206,374 shares of the company’s stock after selling 166,319 shares during the quarter. Moran Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $14,331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Revolve Wealth Partners LLC boosted its stake in shares of Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after buying an additional 200 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Novo Nordisk A/S by 66.8% in the fourth quarter. New York State Common Retirement Fund now owns 131,236 shares of the company’s stock valued at $11,289,000 after acquiring an additional 52,568 shares in the last quarter. MONECO Advisors LLC boosted its stake in Novo Nordisk A/S by 19.5% during the 4th quarter. MONECO Advisors LLC now owns 2,359 shares of the company’s stock valued at $203,000 after acquiring an additional 385 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Novo Nordisk A/S during the 4th quarter worth $746,000. Finally, IFP Advisors Inc increased its position in shares of Novo Nordisk A/S by 5.4% in the 4th quarter. IFP Advisors Inc now owns 11,558 shares of the company’s stock worth $994,000 after purchasing an additional 594 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $70.70 on Wednesday. Novo Nordisk A/S has a 12-month low of $57.00 and a 12-month high of $148.15. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56. The stock’s 50 day simple moving average is $68.61 and its 200 day simple moving average is $77.93.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on NVO. BNP Paribas began coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating for the company. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Guggenheim cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Two research 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 stock. According to MarketBeat.com, Novo Nordisk A/S has an average rating of “Hold” and an average target price of $112.00.

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.