Evelyn Partners Asset Management Ltd Lowers Stock Position in Novo Nordisk A/S $NVO

Evelyn Partners Asset Management Ltd reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 69.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,443 shares of the company’s stock after selling 82,136 shares during the period. Evelyn Partners Asset Management Ltd’s holdings in Novo Nordisk A/S were worth $1,339,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Godfrey Financial Associates Inc. bought a new stake in shares of Novo Nordisk A/S in the 4th quarter worth approximately $25,000. WealthCollab LLC grew its stake in shares of Novo Nordisk A/S by 93.5% in the 4th quarter. WealthCollab LLC now owns 538 shares of the company’s stock worth $27,000 after buying an additional 260 shares during the last quarter. American National Bank & Trust bought a new position in Novo Nordisk A/S during the 4th quarter valued at approximately $28,000. Jackson Grant Investment Advisers Inc. bought a new position in Novo Nordisk A/S during the 4th quarter valued at approximately $29,000. Finally, Maseco LLP purchased a new position in Novo Nordisk A/S during the fourth quarter valued at $29,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $49.63 on Tuesday. The firm has a market capitalization of $221.58 billion, a P/E ratio of 11.65, a PEG ratio of 4.45 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56. Novo Nordisk A/S has a one year low of $35.12 and a one year high of $71.28. The business has a fifty day moving average of $46.46 and a 200 day moving average of $45.63.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share for the quarter. The company had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a return on equity of 63.31% and a net margin of 37.23%. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVO. HSBC reiterated a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday, July 6th. Citigroup restated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novo Nordisk A/S in a report on Monday, July 20th. Zacks Research downgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Five equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $65.56.

About Novo Nordisk A/S

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.