Geneva Partners LLC Sells 5,705 Shares of Novo Nordisk A/S (NYSE:NVO)

Geneva Partners LLC lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 9.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,007 shares of the company’s stock after selling 5,705 shares during the quarter. Novo Nordisk A/S makes up approximately 2.8% of Geneva Partners LLC’s portfolio, making the stock its 12th biggest holding. Geneva Partners LLC’s holdings in Novo Nordisk A/S were worth $6,550,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Choreo LLC increased its stake in shares of Novo Nordisk A/S by 16.7% in the first quarter. Choreo LLC now owns 3,627 shares of the company’s stock worth $466,000 after purchasing an additional 519 shares in the last quarter. Financial Counselors Inc. raised its holdings in Novo Nordisk A/S by 6.0% during the 1st quarter. Financial Counselors Inc. now owns 12,322 shares of the company’s stock valued at $1,582,000 after acquiring an additional 700 shares during the period. RiverPark Advisors LLC purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth $51,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in shares of Novo Nordisk A/S by 33.6% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,356 shares of the company’s stock worth $431,000 after acquiring an additional 844 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Novo Nordisk A/S by 20.3% in the first quarter. Larson Financial Group LLC now owns 2,604 shares of the company’s stock worth $334,000 after acquiring an additional 440 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NVO shares. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, October 10th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, BMO Capital Markets cut their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $109.72 on Tuesday. The stock has a market cap of $492.37 billion, a P/E ratio of 37.58, a PEG ratio of 1.46 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $123.74 and its two-hundred day moving average price is $130.85. Novo Nordisk A/S has a twelve month low of $94.73 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. As a group, equities analysts predict that Novo Nordisk A/S will post 3.01 EPS for the current fiscal 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.