Essex Savings Bank Decreases Holdings in Novo Nordisk A/S (NYSE:NVO)

Essex Savings Bank lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 15.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,650 shares of the company’s stock after selling 680 shares during the period. Essex Savings Bank’s holdings in Novo Nordisk A/S were worth $239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mitchell Capital Management Co. increased its holdings in Novo Nordisk A/S by 42.3% during the second quarter. Mitchell Capital Management Co. now owns 7,298 shares of the company’s stock worth $478,000 after buying an additional 2,171 shares during the last quarter. Everett Harris & Co. CA increased its stake in shares of Novo Nordisk A/S by 1.2% in the second quarter. Everett Harris & Co. CA now owns 3,192,880 shares of the company’s stock worth $209,070,000 after purchasing an additional 37,168 shares in the last quarter. Eukles Asset Management increased its stake in shares of Novo Nordisk A/S by 6.3% in the second quarter. Eukles Asset Management now owns 24,493 shares of the company’s stock worth $1,603,000 after purchasing an additional 1,447 shares in the last quarter. Lucia Wealth Services LLC purchased a new position in shares of Novo Nordisk A/S in the second quarter worth about $909,000. Finally, V Wealth Advisors LLC increased its stake in shares of Novo Nordisk A/S by 29.0% in the second quarter. V Wealth Advisors LLC now owns 6,848 shares of the company’s stock worth $449,000 after purchasing an additional 1,541 shares in the last quarter. Institutional investors and hedge funds own 6.69% of the company’s stock.

NVO has been the subject of several recent research reports. Morgan Stanley reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Monday, May 18th. Societe Generale reiterated a “sell” rating on shares of Novo Nordisk A/S in a research note on Thursday, May 7th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, May 13th. Cowen assumed coverage on shares of Novo Nordisk A/S in a research note on Monday, May 4th. They issued a “market perform” rating and a $72.00 target price for the company. Finally, Bank of America lowered shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $236.00.

Shares of NYSE NVO traded down $1.84 during mid-day trading on Friday, hitting $65.33. The stock had a trading volume of 1,316,753 shares, compared to its average volume of 906,252. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.73 and a current ratio of 1.00. Novo Nordisk A/S has a 1 year low of $47.62 and a 1 year high of $68.96. The business has a 50 day moving average price of $66.31 and a two-hundred day moving average price of $62.63. The firm has a market cap of $153.84 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 2.55 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, May 6th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.68 by $0.07. The company had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.70 billion. Novo Nordisk A/S had a net margin of 31.91% and a return on equity of 73.87%. Equities research analysts predict that Novo Nordisk A/S will post 2.67 EPS for the current fiscal year.

Novo Nordisk A/S Profile

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

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

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