Russell Investments Group Ltd. Sells 20,488 Shares of Novo Nordisk A/S (NYSE:NVO)

Russell Investments Group Ltd. decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 11.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 153,968 shares of the company’s stock after selling 20,488 shares during the quarter. Russell Investments Group Ltd.’s holdings in Novo Nordisk A/S were worth $15,928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its stake in shares of Novo Nordisk A/S by 107.4% during the third quarter. Commonwealth Equity Services LLC now owns 196,053 shares of the company’s stock valued at $17,829,000 after purchasing an additional 101,509 shares during the period. Xponance Inc. purchased a new stake in Novo Nordisk A/S in the 3rd quarter valued at about $248,000. Raymond James Financial Services Advisors Inc. grew its stake in Novo Nordisk A/S by 145.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 359,771 shares of the company’s stock worth $32,718,000 after acquiring an additional 213,360 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Novo Nordisk A/S by 228.9% during the third quarter. Stratos Wealth Partners LTD. now owns 17,857 shares of the company’s stock worth $1,624,000 after acquiring an additional 12,427 shares during the period. Finally, Stratos Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the third quarter valued at approximately $237,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 0.8 %

NYSE NVO opened at $123.08 on Friday. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week high of $138.28. The company has a 50 day moving average price of $127.21 and a 200 day moving average price of $112.77. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The firm has a market cap of $552.33 billion, a PE ratio of 42.44, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.14 billion. Novo Nordisk A/S had a return on equity of 92.21% and a net margin of 36.56%. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 3.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on NVO. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective for the company. BMO Capital Markets assumed coverage on shares of Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price on the stock. Finally, UBS Group initiated coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus price target of $133.60.

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.