Portside Wealth Group LLC Sells 9,133 Shares of Novo Nordisk A/S (NYSE:NVO)

Portside Wealth Group LLC lessened its position in shares of Novo Nordisk A/S (NYSE:NVO) by 17.0% during the 1st quarter, HoldingsChannel reports. The fund owned 44,552 shares of the company’s stock after selling 9,133 shares during the quarter. Portside Wealth Group LLC’s holdings in Novo Nordisk A/S were worth $3,094,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVO. Center for Financial Planning Inc. grew its position in shares of Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares during the period. Strategic Investment Solutions Inc. IL grew its stake in 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 valued at $27,000 after purchasing an additional 300 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $29,000. Transce3nd LLC bought a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $33,000. 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.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $74.70 on Monday. The firm has a market capitalization of $335.22 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 0.90 and a beta of 0.66. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $148.15. The stock has a fifty day moving average of $65.87 and a 200 day moving average of $80.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74.

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 the consensus estimate of $0.92. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The firm had revenue of $11.87 billion during the quarter. On average, research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NVO shares. Guggenheim downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. Dbs Bank lowered Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Friday. Hsbc Global Res raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Finally, Morgan Stanley started coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S has an average rating of “Hold” and a consensus price target of $128.00.

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.