Gerber Kawasaki Wealth & Investment Management Trims Holdings in Novo Nordisk A/S $NVO

Gerber Kawasaki Wealth & Investment Management reduced its position in Novo Nordisk A/S (NYSE:NVO) by 79.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 13,394 shares of the company’s stock after selling 51,699 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Novo Nordisk A/S were worth $924,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in NVO. Jennison Associates LLC increased its position in Novo Nordisk A/S by 0.3% during the 2nd quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock worth $1,303,466,000 after purchasing an additional 63,341 shares during the period. Loomis Sayles & Co. L P increased its stake in Novo Nordisk A/S by 1.5% in the 2nd quarter. Loomis Sayles & Co. L P now owns 12,576,031 shares of the company’s stock valued at $867,998,000 after purchasing an additional 187,789 shares in the last quarter. Kingstone Capital Partners Texas LLC raised its holdings in Novo Nordisk A/S by 301,443.6% during the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after purchasing an additional 10,001,898 shares during the last quarter. Sustainable Growth Advisers LP raised its holdings in Novo Nordisk A/S by 11.7% during the second quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock worth $427,416,000 after purchasing an additional 649,390 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Novo Nordisk A/S in the first quarter valued at $370,272,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 2.3%

Shares of NVO stock opened at $46.76 on Tuesday. The firm has a market capitalization of $208.80 billion, a PE ratio of 13.59 and a beta of 0.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78. Novo Nordisk A/S has a 1 year low of $43.08 and a 1 year high of $112.52. The stock has a fifty day moving average of $51.61 and a two-hundred day moving average of $58.84.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. The company had revenue of $11.79 billion during the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%. As a group, research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NVO shares. Morgan Stanley restated an “underweight” rating and issued a $42.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, December 3rd. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. Argus reiterated a “hold” rating on shares of Novo Nordisk A/S in a report on Monday. Jefferies Financial Group assumed coverage on shares of Novo Nordisk A/S in a research note on Monday, October 27th. They set an “underperform” rating on the stock. Finally, Hsbc Global Res cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.00.

Novo Nordisk A/S Profile

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.