Gradient Investments LLC Has $1.25 Million Stake in Novo Nordisk A/S (NVO)

Gradient Investments LLC reduced its holdings in Novo Nordisk A/S (NYSE:NVO) by 44.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,797 shares of the company’s stock after selling 18,930 shares during the quarter. Gradient Investments LLC’s holdings in Novo Nordisk A/S were worth $1,245,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVO. AMP Capital Investors Ltd boosted its holdings in shares of Novo Nordisk A/S by 371.0% in the 3rd quarter. AMP Capital Investors Ltd now owns 62,476 shares of the company’s stock valued at $2,976,000 after buying an additional 49,211 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at about $232,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at about $522,000. LPL Financial LLC boosted its holdings in shares of Novo Nordisk A/S by 1.3% in the 3rd quarter. LPL Financial LLC now owns 89,384 shares of the company’s stock valued at $4,214,000 after buying an additional 1,159 shares during the period. Finally, Capital International Investors boosted its holdings in shares of Novo Nordisk A/S by 80.5% in the 3rd quarter. Capital International Investors now owns 814,915 shares of the company’s stock valued at $38,415,000 after buying an additional 363,500 shares during the period. Institutional investors and hedge funds own 7.04% of the company’s stock.

Several research firms have recently commented on NVO. Pareto Securities lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group upgraded shares of Novo Nordisk A/S from a “neutral” rating to an “outperform” rating in a research report on Monday, April 29th. Zacks Investment Research downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Barclays reiterated a “sell” rating on shares of Novo Nordisk A/S in a research report on Tuesday, February 5th. Finally, Handelsbanken downgraded shares of Novo Nordisk A/S from a “buy” rating to an “accumulate” rating and set a $48.61 price objective on the stock. in a research report on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $52.31.

NYSE:NVO traded down $1.38 during mid-day trading on Friday, hitting $47.49. The stock had a trading volume of 2,152,880 shares, compared to its average volume of 1,378,629. The company has a market cap of $119.42 billion, a PE ratio of 18.85, a P/E/G ratio of 2.17 and a beta of 0.56. Novo Nordisk A/S has a 52 week low of $41.23 and a 52 week high of $52.83.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Friday, February 1st. The company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.03). Novo Nordisk A/S had a net margin of 34.67% and a return on equity of 80.45%. The firm had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.36 billion. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 2.47 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This news story was published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The legal version of this news story can be viewed at https://www.baseballdailydigest.com/news/2019/05/04/novo-nordisk-a-s-nvo-position-trimmed-by-gradient-investments-llc.html.

Novo Nordisk A/S Profile

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

Featured Article: Is the Dow Jones Industrial Average (DJIA) still relevant?

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

Receive News & Ratings for Novo Nordisk A/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novo Nordisk A/S and related companies with MarketBeat.com's FREE daily email newsletter.