First Trust Advisors LP Sells 612,616 Shares of Novo Nordisk A/S (NYSE:NVO)

Posted by Defense World Staff on May 26th, 2023

First Trust Advisors LP decreased its position in Novo Nordisk A/S (NYSE:NVO – Get Rating) by 91.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,138 shares of the company’s stock after selling 612,616 shares during the period. First Trust Advisors LP’s holdings in Novo Nordisk A/S were worth $7,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. Schubert & Co grew its position in Novo Nordisk A/S by 96.2% during the 4th quarter. Schubert & Co now owns 204 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the period. Tsfg LLC purchased a new position in Novo Nordisk A/S in the 4th quarter worth approximately $30,000. RFP Financial Group LLC purchased a new position in Novo Nordisk A/S in the 4th quarter worth approximately $30,000. Worth Asset Management LLC purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $32,000. Finally, Penserra Capital Management LLC purchased a new stake in Novo Nordisk A/S in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 6.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Credit Suisse Group upgraded shares of Novo Nordisk A/S from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 13th. StockNews.com started coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 18th. They set a “strong-buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus price target of $383.33.

Novo Nordisk A/S Stock Up 0.4 %

Shares of NVO opened at $162.44 on Friday. The firm has a market cap of $367.60 billion, a PE ratio of 42.75, a price-to-earnings-growth ratio of 1.54 and a beta of 0.48. The company’s fifty day moving average is $162.61 and its two-hundred day moving average is $143.39. Novo Nordisk A/S has a fifty-two week low of $95.02 and a fifty-two week high of $172.97. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.30.

About Novo Nordisk A/S

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Novo Nordisk A/S is a global healthcare company, which engages in the the discovery, development, manufacturing and marketing of pharmaceutical products. It operates through the Diabetes and Obesity Care, and Biopharm segments. The Diabetes and Obesity Care segment includes insulin, GLP-1 and related delivery systems, oral antidiabetic products (OAD), obesity, and other serious chronic diseases.