Novo Nordisk A/S $NVO Stock Position Cut by Lido Advisors LLC

Lido Advisors LLC decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 88.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 27,574 shares of the company’s stock after selling 203,129 shares during the period. Lido Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,046,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Godfrey Financial Associates Inc. acquired a new position in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $25,000. WealthCollab LLC lifted its position in Novo Nordisk A/S by 93.5% in the fourth quarter. WealthCollab LLC now owns 538 shares of the company’s stock worth $27,000 after purchasing an additional 260 shares during the period. American National Bank & Trust acquired a new stake in Novo Nordisk A/S in the fourth quarter worth approximately $28,000. Jackson Grant Investment Advisers Inc. bought a new position in Novo Nordisk A/S during the 4th quarter valued at $29,000. Finally, Maseco LLP bought a new position in Novo Nordisk A/S during the 4th quarter valued at $29,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Up 1.8%

NYSE:NVO opened at $49.63 on Tuesday. The business’s fifty day moving average price is $46.46 and its 200 day moving average price is $45.63. The firm has a market capitalization of $221.58 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 4.45 and a beta of 0.77. The company has a current ratio of 0.79, a quick ratio of 0.56 and a debt-to-equity ratio of 0.59. Novo Nordisk A/S has a 1-year low of $35.12 and a 1-year high of $71.28.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 earnings per share for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. The firm had revenue of $10.85 billion for the quarter. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NVO. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Nordea Equity Research raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Friday, June 19th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novo Nordisk A/S in a report on Monday, July 20th. Citigroup reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research report on Monday, July 20th. Finally, HSBC reissued a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $65.56.

About Novo Nordisk A/S

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.