MGO One Seven LLC Trims Stake in Novo Nordisk A/S $NVO

MGO One Seven LLC decreased its position in Novo Nordisk A/S (NYSE:NVO) by 50.1% in the third quarter, Holdings Channel.com reports. The firm owned 25,036 shares of the company’s stock after selling 25,118 shares during the quarter. MGO One Seven LLC’s holdings in Novo Nordisk A/S were worth $1,389,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC increased its position in shares of Novo Nordisk A/S by 0.3% during the second quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock valued at $1,303,466,000 after acquiring an additional 63,341 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Novo Nordisk A/S by 1.5% during the second quarter. Loomis Sayles & Co. L P now owns 12,576,031 shares of the company’s stock valued at $867,998,000 after buying an additional 187,789 shares during the last quarter. Kingstone Capital Partners Texas LLC boosted its position in shares of Novo Nordisk A/S by 301,443.6% during the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after buying an additional 10,001,898 shares during the last quarter. Sustainable Growth Advisers LP increased its holdings in Novo Nordisk A/S by 11.7% in the 2nd quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock worth $427,416,000 after buying an additional 649,390 shares in the last quarter. Finally, State Street Corp lifted its stake in Novo Nordisk A/S by 0.8% during the 2nd quarter. State Street Corp now owns 6,047,683 shares of the company’s stock valued at $418,231,000 after acquiring an additional 47,430 shares during the period. 11.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

NVO has been the subject of several research reports. HSBC reaffirmed a “hold” rating and set a $54.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, December 10th. Argus reiterated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. Jefferies Financial Group initiated coverage on Novo Nordisk A/S in a research report on Monday, October 27th. They set an “underperform” rating for the company. BMO Capital Markets restated a “market perform” rating on shares of Novo Nordisk A/S in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their price objective on Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.21.

Novo Nordisk A/S Stock Performance

NVO stock opened at $57.07 on Friday. Novo Nordisk A/S has a one year low of $43.08 and a one year high of $93.80. The firm has a 50-day simple moving average of $50.51 and a two-hundred day simple moving average of $55.12. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78. The firm has a market cap of $254.82 billion, a price-to-earnings ratio of 16.59 and a beta of 0.66.

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

Novo Nordisk A/S Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.