Connable Office Inc. Sells 925 Shares of Novo Nordisk A/S (NYSE:NVO)

Connable Office Inc. decreased its position in Novo Nordisk A/S (NYSE:NVOFree Report) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,769 shares of the company’s stock after selling 925 shares during the quarter. Connable Office Inc.’s holdings in Novo Nordisk A/S were worth $2,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Polen Capital Management LLC purchased a new stake in Novo Nordisk A/S during the third quarter valued at $718,995,000. FMR LLC increased its stake in Novo Nordisk A/S by 122.7% during the third quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after acquiring an additional 6,654,614 shares during the last quarter. Morgan Stanley raised its position in Novo Nordisk A/S by 96.5% during the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after purchasing an additional 4,526,199 shares during the period. Loomis Sayles & Co. L P lifted its stake in shares of Novo Nordisk A/S by 91.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock valued at $827,354,000 after purchasing an additional 4,350,862 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 156.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,552,481 shares of the company’s stock worth $414,003,000 after purchasing an additional 2,779,866 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NVO shares. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Two equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.60.

Read Our Latest Analysis on NVO

Novo Nordisk A/S Trading Up 0.3 %

Shares of NVO traded up $0.47 during trading hours on Monday, reaching $136.04. 2,845,200 shares of the company traded hands, compared to its average volume of 4,650,784. The stock’s fifty day moving average price is $128.27 and its 200 day moving average price is $116.91. 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 firm has a market cap of $610.48 billion, a price-to-earnings ratio of 46.91, a PEG ratio of 1.40 and a beta of 0.43. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $138.28.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.06. The company had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. Sell-side analysts forecast that Novo Nordisk A/S will post 3.43 earnings per share for the current year.

Novo Nordisk A/S Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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