Prosperity Consulting Group LLC Decreases Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Prosperity Consulting Group LLC cut its stake in Novo Nordisk A/S (NYSE:NVO) by 19.9% in the first quarter, Holdings Channel.com reports. The firm owned 6,961 shares of the company’s stock after selling 1,726 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Novo Nordisk A/S were worth $483,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVO. Nuveen Asset Management LLC increased its stake in shares of Novo Nordisk A/S by 73.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company’s stock worth $537,189,000 after acquiring an additional 2,639,693 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at about $158,657,000. Bank of America Corp DE grew its holdings in shares of Novo Nordisk A/S by 8.1% in the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company’s stock valued at $1,332,655,000 after purchasing an additional 1,165,955 shares during the period. Northern Trust Corp increased its position in Novo Nordisk A/S by 26.8% during the fourth quarter. Northern Trust Corp now owns 4,689,098 shares of the company’s stock worth $403,356,000 after purchasing an additional 991,022 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Novo Nordisk A/S by 543.9% during the fourth quarter. Marshall Wace LLP now owns 1,167,498 shares of the company’s stock worth $100,428,000 after purchasing an additional 986,195 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

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

Novo Nordisk A/S Stock Down 21.8%

NYSE:NVO opened at $53.97 on Wednesday. Novo Nordisk A/S has a 52 week low of $53.51 and a 52 week high of $139.74. The stock’s fifty day moving average is $70.43 and its two-hundred day moving average is $73.37. The stock has a market capitalization of $240.98 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.33 and a beta of 0.64. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70.

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

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.