Novo Nordisk A/S (NYSE:NVO) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 26.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 30,435 shares of the company’s stock after selling 10,898 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Novo Nordisk A/S were worth $3,908,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NVO. Bank of Nova Scotia bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth $263,000. Ameriprise Financial Inc. raised its position in shares of Novo Nordisk A/S by 116.3% during the third quarter. Ameriprise Financial Inc. now owns 1,071,126 shares of the company’s stock worth $97,565,000 after purchasing an additional 575,818 shares during the period. Sei Investments Co. raised its position in shares of Novo Nordisk A/S by 222.9% during the third quarter. Sei Investments Co. now owns 778,715 shares of the company’s stock worth $70,817,000 after purchasing an additional 537,582 shares during the period. Scotia Capital Inc. raised its position in shares of Novo Nordisk A/S by 93.0% during the third quarter. Scotia Capital Inc. now owns 133,804 shares of the company’s stock worth $12,169,000 after purchasing an additional 64,485 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Novo Nordisk A/S by 109.2% during the third quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock worth $331,300,000 after purchasing an additional 1,901,429 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NVO shares. BMO Capital Markets reissued an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Argus upped their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, July 1st. Finally, The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price on the stock. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Stock Up 2.5 %

Shares of NVO traded up $3.50 during trading hours on Friday, hitting $142.37. 3,664,490 shares of the company were exchanged, compared to its average volume of 3,456,442. The company has a market cap of $638.89 billion, a PE ratio of 49.11, a PEG ratio of 1.37 and a beta of 0.41. The firm’s 50 day moving average is $136.52 and its 200-day moving average is $124.87. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $148.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. The company had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.44 EPS for the current fiscal year.

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.