Northstar Asset Management Inc. Lowers Position in Novo Nordisk A/S (NYSE:NVO)

Northstar Asset Management Inc. lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 2.8% in the 3rd quarter, Holdings Channel reports. The firm owned 144,608 shares of the company’s stock after selling 4,104 shares during the quarter. Novo Nordisk A/S accounts for approximately 4.2% of Northstar Asset Management Inc.’s portfolio, making the stock its 7th largest position. Northstar Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $17,218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Global Wealth Management Investment Advisory Inc. grew its position in shares of Novo Nordisk A/S by 4.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 11,499 shares of the company’s stock worth $1,369,000 after buying an additional 441 shares during the period. Hanlon Investment Management Inc. raised its stake in shares of Novo Nordisk A/S by 22.8% in the third quarter. Hanlon Investment Management Inc. now owns 1,779 shares of the company’s stock worth $212,000 after purchasing an additional 330 shares during the last quarter. Central Bank & Trust Co. boosted its position in shares of Novo Nordisk A/S by 6,299.6% during the third quarter. Central Bank & Trust Co. now owns 31,678 shares of the company’s stock valued at $3,772,000 after buying an additional 31,183 shares during the last quarter. Martin Investment Management LLC raised its holdings in shares of Novo Nordisk A/S by 1.8% during the third quarter. Martin Investment Management LLC now owns 292,419 shares of the company’s stock valued at $34,818,000 after purchasing an additional 5,207 shares during the last quarter. Finally, FSM Wealth Advisors LLC grew its stake in shares of Novo Nordisk A/S by 2.4% during the 3rd quarter. FSM Wealth Advisors LLC now owns 5,199 shares of the company’s stock valued at $619,000 after purchasing an additional 121 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NVO shares. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $110.15 on Wednesday. The firm has a market capitalization of $494.30 billion, a PE ratio of 37.72, a P/E/G ratio of 1.46 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The business’s 50 day moving average price is $123.24 and its 200-day moving average price is $130.76.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Company 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.