Keudell Morrison Wealth Management Cuts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Keudell Morrison Wealth Management cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 9.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,762 shares of the company’s stock after selling 786 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Novo Nordisk A/S were worth $539,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Gallagher Capital Advisors LLC increased its position in shares of Novo Nordisk A/S by 24.7% in the first quarter. Gallagher Capital Advisors LLC now owns 19,064 shares of the company’s stock valued at $1,324,000 after buying an additional 3,780 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Novo Nordisk A/S by 17.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 470,565 shares of the company’s stock worth $32,676,000 after acquiring an additional 69,545 shares during the last quarter. Brown Lisle Cummings Inc. boosted its stake in shares of Novo Nordisk A/S by 14.5% in the first quarter. Brown Lisle Cummings Inc. now owns 55,929 shares of the company’s stock worth $3,884,000 after acquiring an additional 7,071 shares during the last quarter. Moser Wealth Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 7.1% in the first quarter. Moser Wealth Advisors LLC now owns 15,100 shares of the company’s stock worth $1,049,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 13.1% in the first quarter. Flagship Harbor Advisors LLC now owns 14,135 shares of the company’s stock worth $982,000 after acquiring an additional 1,636 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVO has been the topic of a number of research analyst reports. Hsbc Global Res raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. BNP Paribas initiated coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating on the stock. Guggenheim lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Hold” and an average price target of $112.00.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $69.81 on Tuesday. The stock’s fifty day moving average is $68.49 and its two-hundred day moving average is $77.98. The firm has a market capitalization of $313.27 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 1.32 and a beta of 0.66. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.92. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. The company had revenue of $11.87 billion for the quarter. On average, research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share 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.