Envestnet Asset Management Inc. Sells 338,503 Shares of Novo Nordisk A/S (NYSE:NVO)

Envestnet Asset Management Inc. lowered its position in shares of Novo Nordisk A/S (NYSE:NVOFree Report) by 7.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,213,978 shares of the company’s stock after selling 338,503 shares during the period. Envestnet Asset Management Inc. owned about 0.09% of Novo Nordisk A/S worth $435,936,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVO. CNB Bank bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $26,000. Pacific Center for Financial Services grew its position in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $28,000. Bell Investment Advisors Inc grew its position in shares of Novo Nordisk A/S by 79.9% in the 3rd quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock valued at $26,000 after buying an additional 127 shares during the last quarter. Finally, Tyler Stone Wealth Management grew its position in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock valued at $27,000 after buying an additional 146 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $142.88 on Friday. The stock has a fifty day simple moving average of $129.73 and a two-hundred day simple moving average of $119.00. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $143.73. The firm has a market cap of $641.18 billion, a price-to-earnings ratio of 49.27, a price-to-earnings-growth ratio of 1.47 and a beta of 0.41. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The business had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.23 billion. Analysts anticipate that Novo Nordisk A/S will post 3.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on NVO shares. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. BMO Capital Markets started coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.33.

Check Out Our Latest Report on Novo Nordisk A/S

About Novo Nordisk A/S

(Free Report)

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.

See Also

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

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