InterOcean Capital Group LLC Sells 164 Shares of Novo Nordisk A/S (NYSE:NVO)

InterOcean Capital Group LLC decreased its stake in Novo Nordisk A/S (NYSE:NVO) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,874 shares of the company’s stock after selling 164 shares during the period. InterOcean Capital Group LLC’s holdings in Novo Nordisk A/S were worth $497,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GQG Partners LLC grew its holdings in Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after purchasing an additional 3,151,584 shares during the period. Pitcairn Co. bought a new position in Novo Nordisk A/S during the first quarter worth about $1,915,000. Saturna Capital Corp grew its holdings in Novo Nordisk A/S by 0.6% during the first quarter. Saturna Capital Corp now owns 2,139,691 shares of the company’s stock worth $274,736,000 after purchasing an additional 12,917 shares during the period. Vaughan David Investments LLC IL bought a new position in Novo Nordisk A/S during the first quarter worth about $227,000. Finally, RB Capital Management LLC grew its holdings in Novo Nordisk A/S by 25.9% during the first quarter. RB Capital Management LLC now owns 17,164 shares of the company’s stock worth $2,204,000 after purchasing an additional 3,526 shares during the period. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on NVO. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, July 1st. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. BMO Capital Markets restated an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Finally, Argus raised their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Two analysts have rated the stock with a hold rating, six 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 has an average rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO traded down $3.79 during midday trading on Thursday, reaching $127.81. The company’s stock had a trading volume of 5,324,682 shares, compared to its average volume of 4,433,290. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. Novo Nordisk A/S has a fifty-two week low of $77.96 and a fifty-two week high of $148.15. The business’s 50 day moving average price is $138.89 and its two-hundred day moving average price is $128.12. The company has a market cap of $573.55 billion, a P/E ratio of 44.19, a P/E/G ratio of 1.34 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The company had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. On average, analysts forecast that Novo Nordisk A/S will post 3.38 EPS for the current fiscal year.

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.