SeaCrest Wealth Management LLC Lowers Stock Position in Novo Nordisk A/S (NYSE:NVO)

SeaCrest Wealth Management LLC reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,238 shares of the company’s stock after selling 278 shares during the period. SeaCrest Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $780,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Center for Financial Planning Inc. lifted its position in shares of Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after buying an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its position in shares of Novo Nordisk A/S by 2,727.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after buying an additional 300 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at about $29,000. Transce3nd LLC purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at about $33,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at about $39,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $74.70 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. Novo Nordisk A/S has a 1 year low of $57.00 and a 1 year high of $148.15. The stock’s 50 day simple moving average is $65.87 and its two-hundred day simple moving average is $80.71. The company has a market cap of $335.22 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 0.90 and a beta of 0.66.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVO. Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating on the stock. Guggenheim downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. BMO Capital Markets reissued a “market perform” rating and set a $64.00 target price (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Hsbc Global Res raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Finally, Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $128.00.

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.