PFG Investments LLC Decreases Stake in Novo Nordisk A/S $NVO

PFG Investments LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 40.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,693 shares of the company’s stock after selling 9,268 shares during the period. PFG Investments LLC’s holdings in Novo Nordisk A/S were worth $760,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC grew its position in shares of Novo Nordisk A/S by 209.8% in the third quarter. True Wealth Design LLC now owns 443 shares of the company’s stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. NewSquare Capital LLC boosted its stake in Novo Nordisk A/S by 174.1% during the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after buying an additional 282 shares during the last quarter. Mid American Wealth Advisory Group Inc. purchased a new stake in Novo Nordisk A/S in the 2nd quarter valued at $37,000. Copeland Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 47.3% in the 2nd quarter. Copeland Capital Management LLC now owns 579 shares of the company’s stock worth $40,000 after acquiring an additional 186 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of Novo Nordisk A/S during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of analyst reports. Morgan Stanley reissued an “underweight” rating and issued a $42.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, December 3rd. Jefferies Financial Group started coverage on shares of Novo Nordisk A/S in a research note on Monday, October 27th. They issued an “underperform” rating for the company. Argus reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. Hsbc Global Res cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Finally, Citigroup began coverage on Novo Nordisk A/S in a research note on Tuesday. They set a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Novo Nordisk A/S has an average rating of “Hold” and a consensus target price of $57.79.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $63.96 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78. The firm has a market cap of $285.58 billion, a P/E ratio of 18.59 and a beta of 0.66. The firm’s 50 day moving average price is $52.44 and its 200-day moving average price is $54.54. Novo Nordisk A/S has a one year low of $43.08 and a one year high of $93.80.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%.The company had revenue of $11.79 billion for the quarter, compared to analyst estimates of $11.98 billion. As a group, equities research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.