Blue Barn Wealth LLC Sells 1,495 Shares of Novo Nordisk A/S (NYSE:NVO)

Blue Barn Wealth LLC reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 22.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,114 shares of the company’s stock after selling 1,495 shares during the quarter. Blue Barn Wealth LLC’s holdings in Novo Nordisk A/S were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NVO. Nuveen Asset Management LLC raised its holdings in Novo Nordisk A/S by 73.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company’s stock valued at $537,189,000 after buying an additional 2,639,693 shares during the period. Two Sigma Investments LP bought a new position in Novo Nordisk A/S during the fourth quarter valued at $158,657,000. Bank of America Corp DE raised its stake in shares of Novo Nordisk A/S by 8.1% in the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company’s stock valued at $1,332,655,000 after acquiring an additional 1,165,955 shares during the period. Northern Trust Corp lifted its holdings in shares of Novo Nordisk A/S by 26.8% in the 4th quarter. Northern Trust Corp now owns 4,689,098 shares of the company’s stock worth $403,356,000 after acquiring an additional 991,022 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Novo Nordisk A/S by 543.9% during the 4th quarter. Marshall Wace LLP now owns 1,167,498 shares of the company’s stock worth $100,428,000 after purchasing an additional 986,195 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 4.0%

Shares of NYSE:NVO opened at $45.31 on Thursday. The business’s 50 day moving average is $67.96 and its 200 day moving average is $72.01. The stock has a market cap of $202.31 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.43 and a beta of 0.63. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $139.74. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. Sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on NVO. BNP Paribas started coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating for the company. Hsbc Global Res downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Barclays reissued an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Guggenheim downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. Finally, Dbs Bank downgraded Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $93.67.

About Novo Nordisk A/S

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.