Novo Nordisk A/S (NYSE:NVO) Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 0.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 359,706 shares of the company’s stock after selling 2,808 shares during the period. Modera Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $24,978,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Baader Bank Aktiengesellschaft lifted its position in Novo Nordisk A/S by 224.4% in the first quarter. Baader Bank Aktiengesellschaft now owns 13,224 shares of the company’s stock valued at $918,000 after buying an additional 9,148 shares during the last quarter. XTX Topco Ltd acquired a new position in Novo Nordisk A/S in the 1st quarter valued at about $706,000. Banque Cantonale Vaudoise purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at approximately $1,013,000. GSA Capital Partners LLP acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth $923,000. Finally, Renaissance Investment Group LLC increased its position in Novo Nordisk A/S by 4.8% during the 1st quarter. Renaissance Investment Group LLC now owns 30,201 shares of the company’s stock worth $2,097,000 after purchasing an additional 1,376 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 21.8%

Shares of NVO opened at $53.97 on Wednesday. The business’s 50-day moving average price is $70.43 and its 200 day moving average price is $73.37. Novo Nordisk A/S has a 1-year low of $53.51 and a 1-year high of $139.74. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $240.98 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.33 and a beta of 0.64.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. Analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Hsbc Global Res raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, April 28th. Guggenheim cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. Dbs Bank cut Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. Finally, BNP Paribas assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an “underperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $112.00.

About Novo Nordisk A/S

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.