Novo Nordisk A/S (NYSE:NVO) Stake Reduced by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 67.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,234 shares of the company’s stock after selling 33,400 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Novo Nordisk A/S were worth $2,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Novo Nordisk A/S by 38.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after buying an additional 26,067 shares during the period. McKinley Carter Wealth Services Inc. grew its stake in Novo Nordisk A/S by 37.0% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 60,356 shares of the company’s stock valued at $6,244,000 after acquiring an additional 16,293 shares in the last quarter. Harbour Trust & Investment Management Co purchased a new position in Novo Nordisk A/S during the 4th quarter valued at about $6,105,000. Bank of New Hampshire grew its stake in Novo Nordisk A/S by 1,356.8% during the 1st quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock valued at $1,702,000 after acquiring an additional 12,347 shares in the last quarter. Finally, Cim LLC purchased a new position in Novo Nordisk A/S during the 4th quarter valued at about $23,547,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on NVO shares. Argus lifted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, July 1st. BMO Capital Markets reissued an “outperform” rating and issued a $163.00 price target on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. 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 price target for the company. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus target price of $145.67.

Novo Nordisk A/S Stock Performance

Shares of NVO stock traded down $3.74 during trading hours on Thursday, reaching $127.86. 5,288,863 shares of the company’s stock were exchanged, compared to its average volume of 4,433,192. Novo Nordisk A/S has a fifty-two week low of $77.96 and a fifty-two week high of $148.15. The stock has a market capitalization of $573.78 billion, a P/E ratio of 44.19, a P/E/G ratio of 1.34 and a beta of 0.41. The business has a fifty day moving average price of $138.89 and a 200-day moving average price of $128.12. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.23 billion. Analysts predict that Novo Nordisk A/S will post 3.38 EPS for the current fiscal 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.