Parr Mcknight Wealth Management Group LLC Has $262,000 Holdings in Novo Nordisk A/S $NVO

Parr Mcknight Wealth Management Group LLC lessened its position in Novo Nordisk A/S (NYSE:NVO) by 60.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,120 shares of the company’s stock after selling 10,795 shares during the quarter. Parr Mcknight Wealth Management Group LLC’s holdings in Novo Nordisk A/S were worth $262,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NVO. Tevis Investment Management grew its holdings in Novo Nordisk A/S by 65.7% in the 1st quarter. Tevis Investment Management now owns 74,090 shares of the company’s stock valued at $2,813,000 after buying an additional 29,390 shares during the last quarter. CORDA Investment Management LLC. bought a new position in Novo Nordisk A/S during the first quarter worth $15,322,000. Procyon Advisors LLC raised its stake in Novo Nordisk A/S by 6.7% during the 1st quarter. Procyon Advisors LLC now owns 12,816 shares of the company’s stock valued at $471,000 after purchasing an additional 805 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Novo Nordisk A/S by 97.4% in the 1st quarter. International Assets Investment Management LLC now owns 8,227 shares of the company’s stock valued at $300,000 after purchasing an additional 4,060 shares during the period. Finally, Trifecta Capital Advisors LLC boosted its holdings in Novo Nordisk A/S by 148.5% in the 1st quarter. Trifecta Capital Advisors LLC now owns 4,016 shares of the company’s stock valued at $148,000 after purchasing an additional 2,400 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $49.28 on Tuesday. The firm has a market cap of $220.04 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 4.51 and a beta of 0.77. The firm’s 50-day simple moving average is $45.71 and its 200-day simple moving average is $45.84. Novo Nordisk A/S has a twelve month low of $35.12 and a twelve month high of $71.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $1.03 earnings per share (EPS) for the quarter. The firm had revenue of $10.85 billion during the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. As a group, research analysts expect that Novo Nordisk A/S will post 3.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NVO shares. Nordea Equity Research raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Friday, June 19th. Citigroup reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a report on Tuesday, May 12th. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings lowered Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, April 22nd. Finally, Sanford C. Bernstein started coverage on Novo Nordisk A/S in a research report on Wednesday, March 18th. They set an “outperform” rating and a $175.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Hold” and an average target price of $65.56.

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.