Agate Pass Investment Management LLC Sells 400 Shares of Novo Nordisk A/S (NYSE:NVO)

Agate Pass Investment Management LLC lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,619 shares of the company’s stock after selling 400 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Novo Nordisk A/S were worth $529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in NVO. GQG Partners LLC boosted its position in Novo Nordisk A/S by 74.7% during the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company’s stock valued at $1,117,790,000 after purchasing an additional 5,556,460 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Novo Nordisk A/S during the fourth quarter valued at about $404,910,000. Loomis Sayles & Co. L P boosted its position in Novo Nordisk A/S by 34.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock valued at $995,397,000 after purchasing an additional 2,947,771 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Novo Nordisk A/S by 73.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company’s stock valued at $537,189,000 after purchasing an additional 2,639,693 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in Novo Nordisk A/S during the fourth quarter valued at about $158,657,000. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Hsbc Global Res upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Dbs Bank cut Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. BNP Paribas assumed coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating for the company. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $64.00 price target (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $135.00.

Novo Nordisk A/S Trading Up 1.3%

Shares of NYSE:NVO opened at $69.46 on Friday. Novo Nordisk A/S has a 52-week low of $57.00 and a 52-week high of $148.15. The stock has a market cap of $311.71 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 0.90 and a beta of 0.65. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $65.63 and a 200-day moving average price of $82.01.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The firm had revenue of $11.87 billion during the quarter. Equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Company 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.