Hayek Kallen Investment Management Sells 423 Shares of Novo Nordisk A/S (NYSE:NVO)

Hayek Kallen Investment Management reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,607 shares of the company’s stock after selling 423 shares during the quarter. Novo Nordisk A/S accounts for approximately 1.3% of Hayek Kallen Investment Management’s investment portfolio, making the stock its 29th biggest holding. Hayek Kallen Investment Management’s holdings in Novo Nordisk A/S were worth $2,151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVO. Renaissance Technologies LLC raised its position in shares of Novo Nordisk A/S by 5.5% in the second quarter. Renaissance Technologies LLC now owns 22,521,916 shares of the company’s stock valued at $1,149,519,000 after purchasing an additional 1,177,000 shares during the period. Fisher Asset Management LLC raised its position in shares of Novo Nordisk A/S by 2.1% in the third quarter. Fisher Asset Management LLC now owns 15,211,300 shares of the company’s stock valued at $786,424,000 after purchasing an additional 310,066 shares during the period. Fayez Sarofim & Co raised its position in shares of Novo Nordisk A/S by 0.3% in the second quarter. Fayez Sarofim & Co now owns 4,484,978 shares of the company’s stock valued at $228,913,000 after purchasing an additional 13,726 shares during the period. Sustainable Growth Advisers LP grew its stake in shares of Novo Nordisk A/S by 2.5% in the second quarter. Sustainable Growth Advisers LP now owns 3,627,615 shares of the company’s stock valued at $185,153,000 after acquiring an additional 89,413 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Novo Nordisk A/S by 1.2% in the second quarter. Parametric Portfolio Associates LLC now owns 2,029,602 shares of the company’s stock valued at $103,591,000 after acquiring an additional 24,211 shares in the last quarter. 7.36% of the stock is currently owned by hedge funds and other institutional investors.

NVO has been the topic of several research reports. Bank of America upped their price target on shares of Novo Nordisk A/S from $355.00 to $400.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Pareto Securities upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Jefferies Financial Group downgraded shares of Novo Nordisk A/S from a “hold” rating to an “underperform” rating in a research note on Friday, August 30th. Zacks Investment Research upgraded shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating and set a $50.00 price target on the stock in a research note on Monday, July 15th. Finally, Citigroup upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $159.65.

Novo Nordisk A/S stock traded up $1.50 during trading hours on Friday, reaching $57.87. 1,768,123 shares of the stock were exchanged, compared to its average volume of 1,410,802. The company has a market cap of $135.11 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 2.28 and a beta of 0.61. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. Novo Nordisk A/S has a twelve month low of $43.12 and a twelve month high of $57.93. The stock has a 50 day moving average of $53.15 and a two-hundred day moving average of $50.60.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.55 billion. Novo Nordisk A/S had a net margin of 32.44% and a return on equity of 75.48%. On average, analysts expect that Novo Nordisk A/S will post 2.45 earnings per share for the current fiscal year.

Novo Nordisk A/S Profile

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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