Hodges Capital Management Inc. Sells 39,684 Shares of Novo Nordisk A/S (NYSE:NVO)

Hodges Capital Management Inc. reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 20.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 159,058 shares of the company’s stock after selling 39,684 shares during the quarter. Novo Nordisk A/S makes up about 1.3% of Hodges Capital Management Inc.’s holdings, making the stock its 21st largest position. Hodges Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $20,423,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NVO. Pacific Center for Financial Services lifted its holdings in Novo Nordisk A/S by 100.0% during the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. First PREMIER Bank purchased a new stake in Novo Nordisk A/S in the first quarter worth $25,000. CNB Bank purchased a new stake in Novo Nordisk A/S in the fourth quarter worth $26,000. Tyler Stone Wealth Management increased its position in Novo Nordisk A/S by 100.0% in the third quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock worth $27,000 after buying an additional 146 shares during the last quarter. Finally, West Paces Advisors Inc. increased its position in Novo Nordisk A/S by 100.0% in the third quarter. West Paces Advisors Inc. now owns 300 shares of the company’s stock worth $27,000 after buying an additional 150 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $1.75 during mid-day trading on Friday, hitting $142.74. The company had a trading volume of 2,757,544 shares, compared to its average volume of 3,502,773. Novo Nordisk A/S has a 1 year low of $75.56 and a 1 year high of $148.15. The stock’s 50-day moving average price is $135.00 and its 200-day moving average price is $123.35. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $640.55 billion, a price-to-earnings ratio of 49.24, a P/E/G ratio of 1.44 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The business had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of recent research reports. Argus raised their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, June 17th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $163.00 target price on shares of Novo Nordisk A/S in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $145.67.

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.