Portside Wealth Group LLC Sells 9,133 Shares of Novo Nordisk A/S (NYSE:NVO)

Portside Wealth Group LLC decreased its position in Novo Nordisk A/S (NYSE:NVO) by 17.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,552 shares of the company’s stock after selling 9,133 shares during the quarter. Portside Wealth Group LLC’s holdings in Novo Nordisk A/S were worth $3,094,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NVO. Center for Financial Planning Inc. grew its stake in shares of Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after buying an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in Novo Nordisk A/S by 2,727.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock worth $27,000 after purchasing an additional 300 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $29,000. Transce3nd LLC acquired a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $33,000. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $39,000. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Guggenheim lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating for the company. Stifel Nicolaus lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Dbs Bank lowered Novo Nordisk A/S to a “sell” rating in a report on Friday, April 25th. Finally, Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Hold” and a consensus target price of $128.00.

Novo Nordisk A/S Stock Up 2.8%

Shares of NVO stock opened at $74.70 on Monday. Novo Nordisk A/S has a 12 month low of $57.00 and a 12 month high of $148.15. The firm has a market cap of $335.22 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 0.90 and a beta of 0.66. The stock has a 50 day moving average of $65.87 and a 200-day moving average of $80.38. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting analysts’ consensus estimates of $0.92. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The business had revenue of $11.87 billion during the quarter. On average, equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S 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.