Fayez Sarofim & Co Sells 708,837 Shares of Novo Nordisk A/S $NVO

Fayez Sarofim & Co reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,503,662 shares of the company’s stock after selling 708,837 shares during the period. Novo Nordisk A/S comprises 1.7% of Fayez Sarofim & Co’s investment portfolio, making the stock its 17th largest position. Fayez Sarofim & Co’s holdings in Novo Nordisk A/S were worth $724,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lockheed Martin Investment Management Co. raised its stake in shares of Novo Nordisk A/S by 179.4% during the second quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock valued at $2,999,000 after acquiring an additional 27,900 shares during the last quarter. Unified Investment Management bought a new stake in shares of Novo Nordisk A/S in the second quarter worth about $692,000. Acadian Asset Management LLC increased its holdings in Novo Nordisk A/S by 15,919.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after purchasing an additional 1,038,137 shares during the period. Guild Investment Management Inc. raised its position in Novo Nordisk A/S by 20.7% during the 2nd quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock valued at $2,553,000 after purchasing an additional 6,345 shares during the last quarter. Finally, Norden Group LLC raised its position in Novo Nordisk A/S by 216.3% during the 2nd quarter. Norden Group LLC now owns 96,332 shares of the company’s stock valued at $6,649,000 after purchasing an additional 65,877 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $46.76 on Tuesday. Novo Nordisk A/S has a 12 month low of $43.08 and a 12 month high of $112.52. The firm has a market capitalization of $208.80 billion, a P/E ratio of 13.59 and a beta of 0.67. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $51.61 and a two-hundred day simple moving average of $58.84.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.25. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. The company had revenue of $11.79 billion during the quarter, compared to analyst estimates of $11.98 billion. On average, equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NVO. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. Rothschild Redb upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 16th. The Goldman Sachs Group reduced their price objective on shares of Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. HSBC lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Finally, Argus reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.00.

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.