Stiles Financial Services Inc Reduces Stock Position in Novo Nordisk A/S $NVO

Stiles Financial Services Inc trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 25.0% in the third quarter, Holdings Channel reports. The institutional investor owned 31,678 shares of the company’s stock after selling 10,587 shares during the period. Stiles Financial Services Inc’s holdings in Novo Nordisk A/S were worth $1,758,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NVO. Avidian Wealth Enterprises LLC lifted its stake in Novo Nordisk A/S by 24.1% during the third quarter. Avidian Wealth Enterprises LLC now owns 14,823 shares of the company’s stock worth $823,000 after purchasing an additional 2,876 shares during the last quarter. Samalin Investment Counsel LLC grew its position in shares of Novo Nordisk A/S by 53.4% in the 3rd quarter. Samalin Investment Counsel LLC now owns 10,707 shares of the company’s stock valued at $594,000 after buying an additional 3,728 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in Novo Nordisk A/S by 12.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 20,386 shares of the company’s stock worth $1,061,000 after acquiring an additional 2,194 shares in the last quarter. Joel Isaacson & Co. LLC raised its stake in Novo Nordisk A/S by 1.0% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 21,084 shares of the company’s stock worth $1,170,000 after acquiring an additional 200 shares in the last quarter. Finally, Waldron Private Wealth LLC purchased a new stake in Novo Nordisk A/S in the third quarter valued at $397,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $60.70 on Wednesday. The company has a market cap of $271.00 billion, a price-to-earnings ratio of 17.64 and a beta of 0.66. The stock has a 50 day simple moving average of $51.41 and a 200-day simple moving average of $54.76. Novo Nordisk A/S has a 12-month low of $43.08 and a 12-month high of $93.80. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. The firm had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%. On average, equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on NVO. BMO Capital Markets reaffirmed a “market perform” rating on shares of Novo Nordisk A/S in a report on Wednesday, January 14th. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Jefferies Financial Group started coverage on shares of Novo Nordisk A/S in a report on Monday, October 27th. They issued an “underperform” rating for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Novo Nordisk A/S in a report on Monday, December 29th. Finally, Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $56.21.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.