Novo Nordisk A/S (NYSE:NVO) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 717,835 shares of the company’s stock after selling 3,313 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Novo Nordisk A/S were worth $49,846,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NVO. Strategic Investment Solutions Inc. IL raised its position 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 worth $27,000 after acquiring an additional 300 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at $29,000. Transce3nd LLC purchased a new stake in Novo Nordisk A/S during the 4th quarter worth about $33,000. North Capital Inc. purchased a new stake in Novo Nordisk A/S during the 1st quarter worth about $27,000. Finally, Copeland Capital Management LLC increased its position in 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 in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVO has been the subject of a number of recent research reports. BMO Capital Markets reiterated a “market perform” rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Guggenheim lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. Hsbc Global Res raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Wall Street Zen raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Finally, BNP Paribas initiated coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating on the stock. 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 MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $112.00.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $68.98 on Tuesday. Novo Nordisk A/S has a twelve month low of $57.00 and a twelve month high of $139.74. 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 company has a market capitalization of $308.00 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.38 and a beta of 0.64. The business has a 50 day simple moving average of $70.71 and a 200-day simple moving average of $73.51.

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, 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 business had revenue of $11.87 billion during the quarter. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

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.