Geneva Partners LLC Sells 5,705 Shares of Novo Nordisk A/S (NYSE:NVO)

Geneva Partners LLC trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 9.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,007 shares of the company’s stock after selling 5,705 shares during the period. Novo Nordisk A/S comprises 2.8% of Geneva Partners LLC’s investment portfolio, making the stock its 12th largest position. Geneva Partners LLC’s holdings in Novo Nordisk A/S were worth $6,550,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after buying an additional 823,036 shares during the period. Envestnet Asset Management Inc. increased its stake in Novo Nordisk A/S by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after purchasing an additional 58,935 shares during the period. GQG Partners LLC increased its stake in Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after purchasing an additional 3,151,584 shares during the period. Raymond James & Associates lifted its position in Novo Nordisk A/S by 1.0% in the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after purchasing an additional 36,223 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Novo Nordisk A/S by 7.8% during the first quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock valued at $304,697,000 after purchasing an additional 172,003 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Stock Down 2.0 %

Shares of Novo Nordisk A/S stock opened at $109.72 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15. The company has a market cap of $492.37 billion, a P/E ratio of 37.58, a PEG ratio of 1.46 and a beta of 0.42. The company’s fifty day simple moving average is $123.74 and its two-hundred day simple moving average is $130.85.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Research analysts anticipate that Novo Nordisk A/S will post 3.01 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.