Healthcare of Ontario Pension Plan Trust Fund Sells 41,600 Shares of Novo Nordisk A/S (NYSE:NVO)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 45.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,634 shares of the company’s stock after selling 41,600 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Novo Nordisk A/S were worth $5,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. Pacific Center for Financial Services boosted its position in shares of Novo Nordisk A/S by 100.0% in the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. CNB Bank bought a new position in Novo Nordisk A/S in the 4th quarter worth $26,000. Tyler Stone Wealth Management increased its stake in Novo Nordisk A/S by 100.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock worth $27,000 after buying an additional 146 shares in the last quarter. West Paces Advisors Inc. raised its holdings in Novo Nordisk A/S by 100.0% during the third quarter. West Paces Advisors Inc. now owns 300 shares of the company’s stock valued at $27,000 after acquiring an additional 150 shares during the period. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at about $28,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NVO shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday. BMO Capital Markets started coverage on shares of Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 price objective for the company. Argus boosted their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Stock Up 0.3 %

NYSE NVO opened at $140.80 on Wednesday. The stock has a 50 day moving average price of $131.97 and a 200-day moving average price of $121.17. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $144.50. The company has a market capitalization of $631.84 billion, a P/E ratio of 48.55, a P/E/G ratio of 1.39 and a beta of 0.41. 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 (NYSE:NVO) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, beating the consensus estimate 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 business had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.23 billion. As a group, equities analysts predict that Novo Nordisk A/S will post 3.41 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.