Signaturefd LLC Cuts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Signaturefd LLC trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 6.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,058 shares of the company’s stock after selling 5,049 shares during the period. Signaturefd LLC’s holdings in Novo Nordisk A/S were worth $4,934,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NVO. Strategic Investment Solutions Inc. IL grew its holdings in shares of 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 worth $27,000 after buying an additional 300 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in Novo Nordisk A/S during the 4th quarter valued at about $29,000. Transce3nd LLC acquired a new stake in Novo Nordisk A/S in the 4th quarter valued at about $33,000. North Capital Inc. purchased a new position in Novo Nordisk A/S in the 1st quarter worth approximately $27,000. Finally, Copeland Capital Management LLC boosted its holdings in shares of Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after purchasing an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $68.93 on Monday. The stock has a market cap of $307.77 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.33 and a beta of 0.64. Novo Nordisk A/S has a twelve month low of $57.00 and a twelve month high of $143.49. The stock has a 50 day moving average of $70.35 and a two-hundred day moving average of $74.91. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70.

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

Wall Street Analyst Weigh In

NVO has been the topic of several analyst reports. BNP Paribas began coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They set an “underperform” rating on the stock. Guggenheim cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. Dbs Bank lowered Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Finally, BMO Capital Markets restated 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 research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock 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.