Cresset Asset Management LLC Trims Holdings in Novo Nordisk A/S (NYSE:NVO)

Cresset Asset Management LLC lowered its position in shares of Novo Nordisk A/S (NYSE:NVO) by 60.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,836 shares of the company’s stock after selling 85,774 shares during the quarter. Cresset Asset Management LLC’s holdings in Novo Nordisk A/S were worth $4,889,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NVO. Centiva Capital LP raised its holdings in Novo Nordisk A/S by 50.1% during the fourth quarter. Centiva Capital LP now owns 31,367 shares of the company’s stock valued at $2,698,000 after acquiring an additional 10,469 shares during the period. Bridgefront Capital LLC bought a new stake in Novo Nordisk A/S during the 4th quarter valued at approximately $341,000. Cantor Fitzgerald L. P. purchased a new position in Novo Nordisk A/S in the 4th quarter worth approximately $3,017,000. Cary Street Partners Financial LLC bought a new position in Novo Nordisk A/S in the 4th quarter worth approximately $2,413,000. Finally, Baird Financial Group Inc. raised its position in shares of Novo Nordisk A/S by 0.4% during the fourth quarter. Baird Financial Group Inc. now owns 865,877 shares of the company’s stock valued at $74,483,000 after buying an additional 3,283 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $64.78 on Friday. The firm has a market capitalization of $290.72 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 0.90 and a beta of 0.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The business has a 50 day simple moving average of $69.65 and a 200-day simple moving average of $86.58. Novo Nordisk A/S has a 1 year low of $57.00 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data 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 net margin of 34.81% and a return on equity of 84.68%. The company had revenue of $11.87 billion during the quarter, compared to analyst estimates of $79.17 billion. Equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NVO shares. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 25th. Dbs Bank lowered Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. Morgan Stanley started coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.

About Novo Nordisk A/S

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.