Lenox Wealth Management Inc. Sells 2,622 Shares of Novo Nordisk A/S (NYSE:NVO)

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Lenox Wealth Management Inc. reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 3.1% in the third quarter, HoldingsChannel.com reports. The fund owned 81,642 shares of the company’s stock after selling 2,622 shares during the quarter. Novo Nordisk A/S accounts for approximately 1.2% of Lenox Wealth Management Inc.’s portfolio, making the stock its 19th largest position. Lenox Wealth Management Inc.’s holdings in Novo Nordisk A/S were worth $4,220,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVO. Eagle Asset Management Inc. bought a new position in shares of Novo Nordisk A/S during the third quarter valued at about $907,000. Keeler Thomas Management LLC raised its stake in shares of Novo Nordisk A/S by 17.1% during the third quarter. Keeler Thomas Management LLC now owns 15,100 shares of the company’s stock valued at $780,000 after acquiring an additional 2,200 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new position in shares of Novo Nordisk A/S during the third quarter valued at about $2,120,000. Bartlett & Co. LLC increased its position in shares of Novo Nordisk A/S by 1.1% during the third quarter. Bartlett & Co. LLC now owns 60,527 shares of the company’s stock valued at $3,129,000 after buying an additional 667 shares during the period. Finally, Traynor Capital Management Inc. increased its position in shares of Novo Nordisk A/S by 0.8% during the third quarter. Traynor Capital Management Inc. now owns 72,479 shares of the company’s stock valued at $3,747,000 after buying an additional 593 shares during the period. 7.36% of the stock is owned by institutional investors.

Several equities analysts recently issued reports on NVO shares. Zacks Investment Research upgraded shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating and set a $50.00 price target on the stock in a research report on Monday, July 15th. Bank of America upped their price objective on shares of Novo Nordisk A/S from $355.00 to $400.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Citigroup upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 17th. ValuEngine upgraded shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Pareto Securities upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Novo Nordisk A/S currently has an average rating of “Hold” and an average price target of $159.65.

Shares of NYSE:NVO traded up $1.50 during trading on Friday, reaching $57.87. 1,768,123 shares of the stock traded hands, compared to its average volume of 1,410,802. The stock has a 50-day moving average of $53.15 and a two-hundred day moving average of $50.60. Novo Nordisk A/S has a 52-week low of $43.12 and a 52-week high of $57.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 1.00. The stock has a market cap of $135.11 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 2.28 and a beta of 0.61.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.55 billion. Novo Nordisk A/S had a net margin of 32.44% and a return on equity of 75.48%. Sell-side analysts expect that Novo Nordisk A/S will post 2.45 earnings per share for the current year.

Novo Nordisk A/S Profile

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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