Bright Futures Wealth Management LLC. Trims Stake in Novo Nordisk A/S (NYSE:NVO)

Bright Futures Wealth Management LLC. lowered its holdings in Novo Nordisk A/S (NYSE:NVO) by 7.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,652 shares of the company’s stock after selling 703 shares during the quarter. Bright Futures Wealth Management LLC.’s holdings in Novo Nordisk A/S were worth $601,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVO. GQG Partners LLC raised its position in Novo Nordisk A/S by 74.7% in the fourth 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. Raymond James Financial Inc. acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at $404,910,000. Loomis Sayles & Co. L P grew its stake in shares of Novo Nordisk A/S by 34.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock valued at $995,397,000 after buying an additional 2,947,771 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Novo Nordisk A/S by 73.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company’s stock valued at $537,189,000 after buying an additional 2,639,693 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at $158,657,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of research reports. Guggenheim cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Finally, BNP Paribas started coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.00.

Novo Nordisk A/S Price Performance

NVO opened at $73.76 on Friday. Novo Nordisk A/S has a 12 month low of $57.00 and a 12 month high of $148.15. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56. The business has a fifty day moving average price of $68.41 and a 200 day moving average price of $78.48.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. The firm had revenue of $11.87 billion during the quarter. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share 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.