Snowden Capital Advisors LLC Lowers Position in Novo Nordisk A/S (NYSE:NVO)

Snowden Capital Advisors LLC lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 55.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,433 shares of the company’s stock after selling 60,885 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Novo Nordisk A/S were worth $4,252,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NVO. Center for Financial Planning Inc. raised its stake in Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its stake in Novo Nordisk A/S by 2,727.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Transce3nd LLC purchased a new stake in Novo Nordisk A/S during the fourth quarter valued at $33,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Novo Nordisk A/S during the fourth quarter valued at $39,000. Finally, Albion Financial Group UT raised its stake in Novo Nordisk A/S by 121.4% during the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after purchasing an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO opened at $64.35 on Friday. Novo Nordisk A/S has a 12-month low of $57.00 and a 12-month high of $148.15. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $288.75 billion, a PE ratio of 19.56, a P/E/G ratio of 0.90 and a beta of 0.65. The firm has a 50 day moving average of $67.31 and a two-hundred day moving average of $84.58.

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

Analysts Set New Price Targets

NVO has been the topic of several recent analyst reports. Hsbc Global Res raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, April 25th. Dbs Bank lowered shares of Novo Nordisk A/S to a “sell” rating in a report on Friday, April 25th. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.00.

About Novo Nordisk A/S

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.