Novo Nordisk A/S (NYSE:NVO) Shares Sold by SouthState Corp

SouthState Corp cut its stake in Novo Nordisk A/S (NYSE:NVO) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,918 shares of the company’s stock after selling 1,524 shares during the period. SouthState Corp’s holdings in Novo Nordisk A/S were worth $5,474,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brookstone Capital Management grew its position in Novo Nordisk A/S by 91.4% in the 3rd quarter. Brookstone Capital Management now owns 14,339 shares of the company’s stock valued at $1,400,000 after buying an additional 6,846 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Novo Nordisk A/S by 107.4% during the third quarter. Commonwealth Equity Services LLC now owns 196,053 shares of the company’s stock valued at $17,829,000 after acquiring an additional 101,509 shares in the last quarter. SVB Wealth LLC raised its position in Novo Nordisk A/S by 108.2% during the third quarter. SVB Wealth LLC now owns 27,626 shares of the company’s stock valued at $2,512,000 after acquiring an additional 14,360 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Novo Nordisk A/S by 149.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 141,953 shares of the company’s stock valued at $12,909,000 after acquiring an additional 85,022 shares in the last quarter. Finally, Xponance Inc. bought a new position in Novo Nordisk A/S during the third quarter valued at approximately $248,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NVO. BMO Capital Markets assumed coverage on shares of Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 price objective on the stock. UBS Group initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating on the stock. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price of $133.60.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO traded down $5.19 on Thursday, hitting $124.02. The stock had a trading volume of 8,292,409 shares, compared to its average volume of 4,848,738. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $138.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. The firm’s 50 day moving average price is $127.22 and its 200-day moving average price is $112.70. The company has a market capitalization of $556.54 billion, a price-to-earnings ratio of 45.85, a price-to-earnings-growth ratio of 2.14 and a beta of 0.43.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The company had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. On average, equities research analysts predict that Novo Nordisk A/S will post 3.32 earnings per share 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.