Penobscot Investment Management Company Inc. Lowers Holdings in Novo Nordisk A/S (NYSE:NVO)

Penobscot Investment Management Company Inc. trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 6.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 33,322 shares of the company’s stock after selling 2,247 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Novo Nordisk A/S were worth $2,314,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in shares of Novo Nordisk A/S by 58.5% during the 4th quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock worth $5,410,000 after purchasing an additional 23,223 shares during the last quarter. North Star Investment Management Corp. lifted its stake in shares of Novo Nordisk A/S by 18.2% during the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company’s stock worth $1,440,000 after purchasing an additional 3,200 shares during the last quarter. Stanley Laman Group Ltd. purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $390,000. Dover Advisors LLC purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $505,000. Finally, SVB Wealth LLC purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth $1,250,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 4.8%

Shares of NYSE:NVO opened at $67.37 on Thursday. The business’s 50-day moving average is $68.70 and its 200 day moving average is $77.86. Novo Nordisk A/S has a 1 year low of $57.00 and a 1 year high of $145.99. The firm has a market capitalization of $300.81 billion, a P/E ratio of 19.93, a P/E/G ratio of 1.26 and a beta of 0.66. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share 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 80.94% and a net margin of 34.52%. On average, research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NVO has been the subject of a number of analyst reports. Wall Street Zen upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. BNP Paribas began coverage on Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an “underperform” rating on the stock. Hsbc Global Res raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, April 28th. Finally, Dbs Bank lowered Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $112.00.

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.