Adero Partners LLC Trims Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Adero Partners LLC lowered its position in shares of Novo Nordisk A/S (NYSE:NVO) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,347 shares of the company’s stock after selling 601 shares during the quarter. Adero Partners LLC’s holdings in Novo Nordisk A/S were worth $460,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NVO. Novare Capital Management LLC boosted its stake in Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after acquiring an additional 85 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Novo Nordisk A/S by 2.5% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock worth $454,000 after purchasing an additional 94 shares in the last quarter. Spinnaker Trust grew its stake in shares of Novo Nordisk A/S by 1.1% in the 3rd quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock worth $1,145,000 after buying an additional 100 shares during the last quarter. Marco Investment Management LLC increased its position in Novo Nordisk A/S by 1.5% during the 3rd quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock valued at $798,000 after buying an additional 100 shares in the last quarter. Finally, Carr Financial Group Corp boosted its holdings in Novo Nordisk A/S by 5.1% in the third quarter. Carr Financial Group Corp now owns 2,100 shares of the company’s stock worth $250,000 after acquiring an additional 101 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NVO shares. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, BMO Capital Markets cut their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Up 3.9 %

NVO opened at $85.83 on Thursday. The stock has a market capitalization of $385.16 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 0.93 and a beta of 0.45. The firm has a 50 day moving average price of $92.65 and a 200-day moving average price of $112.19. Novo Nordisk A/S has a twelve month low of $78.17 and a twelve month high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 35.03% and a return on equity of 86.32%. Equities research analysts forecast that Novo Nordisk A/S will post 3.16 earnings per share for the current year.

Novo Nordisk A/S Company Profile

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.