Novo Nordisk A/S $NVO Position Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 9.7% during the first quarter, Holdings Channel reports. The firm owned 423,561 shares of the company’s stock after selling 45,308 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Novo Nordisk A/S were worth $15,566,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NVO. Revolve Wealth Partners LLC grew its position in shares of Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after buying an additional 200 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Novo Nordisk A/S by 21.0% in the first quarter. AQR Capital Management LLC now owns 62,099 shares of the company’s stock worth $4,312,000 after acquiring an additional 10,758 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in Novo Nordisk A/S by 18.2% in the second quarter. Sivia Capital Partners LLC now owns 10,320 shares of the company’s stock worth $712,000 after acquiring an additional 1,587 shares during the last quarter. Invesco Ltd. boosted its stake in Novo Nordisk A/S by 26.3% in the second quarter. Invesco Ltd. now owns 419,691 shares of the company’s stock valued at $28,967,000 after acquiring an additional 87,467 shares during the period. Finally, Gamco Investors INC. ET AL bought a new position in shares of Novo Nordisk A/S during the second quarter valued at approximately $314,000. 11.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. HSBC reiterated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, July 6th. Zacks Research lowered Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Wall Street Zen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of Novo Nordisk A/S in a report on Monday, July 20th. Finally, Nordea Equity Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Friday, June 19th. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $65.56.

Novo Nordisk A/S Trading Up 1.2%

Shares of NVO stock opened at $48.76 on Friday. Novo Nordisk A/S has a 1 year low of $35.12 and a 1 year high of $71.79. The firm has a market capitalization of $217.71 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 4.45 and a beta of 0.77. The stock has a fifty day moving average of $46.36 and a two-hundred day moving average of $45.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. The company had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%. As a group, research analysts expect that Novo Nordisk A/S will post 3.39 EPS for the current year.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.