Diversify Wealth Management LLC Trims Holdings in Novo Nordisk A/S (NYSE:NVO)

Diversify Wealth Management LLC cut its stake in Novo Nordisk A/S (NYSE:NVO) by 11.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,790 shares of the company’s stock after selling 2,903 shares during the quarter. Diversify Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $1,420,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL boosted its stake in Novo Nordisk A/S by 2,727.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after buying an additional 300 shares during the period. Park Square Financial Group LLC bought a new stake in Novo Nordisk A/S during the fourth quarter valued at $29,000. Transce3nd LLC bought a new stake in Novo Nordisk A/S during the fourth quarter valued at $33,000. North Capital Inc. bought a new stake in Novo Nordisk A/S during the first quarter valued at $27,000. Finally, Copeland Capital Management LLC boosted its stake in Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after buying an additional 255 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BNP Paribas assumed coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an “underperform” rating for the company. Wall Street Zen upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Dbs Bank cut Novo Nordisk A/S to a “sell” rating in a report on Friday, April 25th. Hsbc Global Res upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, April 28th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $112.00.

Novo Nordisk A/S Trading Down 2.9%

NYSE NVO opened at $68.93 on Friday. Novo Nordisk A/S has a 1-year low of $57.00 and a 1-year high of $143.49. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average of $70.35 and a 200-day moving average of $75.08. The firm has a market cap of $307.77 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.38 and a beta of 0.64.

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

Novo Nordisk A/S Company 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.