QV Investors Inc. Sells 580 Shares of Novo Nordisk A/S (NYSE:NVO)

QV Investors Inc. decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 7.0% during the first quarter, Holdings Channel reports. The institutional investor owned 7,694 shares of the company’s stock after selling 580 shares during the period. QV Investors Inc.’s holdings in Novo Nordisk A/S were worth $534,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NVO. Bank of America Corp DE lifted its position in shares of Novo Nordisk A/S by 8.1% in the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company’s stock valued at $1,332,655,000 after acquiring an additional 1,165,955 shares in the last quarter. GQG Partners LLC raised its stake in Novo Nordisk A/S by 74.7% during the 4th quarter. GQG Partners LLC now owns 12,994,533 shares of the company’s stock valued at $1,117,790,000 after purchasing an additional 5,556,460 shares during the period. Loomis Sayles & Co. L P lifted its holdings in Novo Nordisk A/S by 34.2% in the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock worth $995,397,000 after purchasing an additional 2,947,771 shares in the last quarter. Folketrygdfondet boosted its stake in Novo Nordisk A/S by 0.5% in the 4th quarter. Folketrygdfondet now owns 8,903,938 shares of the company’s stock worth $765,917,000 after purchasing an additional 40,313 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Novo Nordisk A/S by 1.5% during the 4th quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company’s stock valued at $715,084,000 after buying an additional 123,681 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

NVO has been the topic of several research analyst reports. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Dbs Bank cut shares of Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. BMO Capital Markets reissued a “market perform” rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Finally, BNP Paribas assumed coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an “underperform” rating for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $128.00.

Novo Nordisk A/S Stock Up 2.8%

Shares of NYSE NVO opened at $71.40 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a 12-month low of $57.00 and a 12-month high of $148.15. The firm’s 50-day moving average price is $65.58 and its 200-day moving average price is $81.43. The stock has a market capitalization of $320.41 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 0.90 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.92. The business had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S 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.