First Dallas Securities Inc. Sells 600 Shares of Novo Nordisk A/S (NYSE:NVO)

First Dallas Securities Inc. cut its stake in Novo Nordisk A/S (NYSE:NVO) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,476 shares of the company’s stock after selling 600 shares during the quarter. First Dallas Securities Inc.’s holdings in Novo Nordisk A/S were worth $1,987,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Morgan Stanley raised its position in shares of Novo Nordisk A/S by 96.5% in the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after purchasing an additional 4,526,199 shares during the period. Folketrygdfondet raised its position in shares of Novo Nordisk A/S by 1.4% in the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after purchasing an additional 124,770 shares during the period. Capital International Investors increased its position in Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after acquiring an additional 1,297,536 shares during the period. Royal Bank of Canada increased its position in Novo Nordisk A/S by 109.2% during the third quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock worth $331,300,000 after acquiring an additional 1,901,429 shares during the period. Finally, Natixis Advisors L.P. increased its position in Novo Nordisk A/S by 1.8% during the fourth quarter. Natixis Advisors L.P. now owns 3,052,406 shares of the company’s stock worth $315,770,000 after acquiring an additional 55,333 shares during the period. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NVO traded down $1.75 during mid-day trading on Friday, reaching $142.74. The company had a trading volume of 2,757,544 shares, compared to its average volume of 3,502,773. The company’s 50 day simple moving average is $135.00 and its 200 day simple moving average is $123.35. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $148.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The company has a market capitalization of $640.55 billion, a price-to-earnings ratio of 49.24, a P/E/G ratio of 1.44 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The company had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. Analysts expect that Novo Nordisk A/S will post 3.41 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on NVO. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, June 17th. Argus raised their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $163.00 target price on shares of Novo Nordisk A/S in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.67.

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.