Assetmark Inc. Acquires 21,553 Shares of Novo Nordisk A/S (NYSE:NVO)

Assetmark Inc. grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 441,882 shares of the company’s stock after acquiring an additional 21,553 shares during the quarter. Assetmark Inc.’s holdings in Novo Nordisk A/S were worth $52,615,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S in the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Novo Nordisk A/S in the 2nd quarter worth about $25,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $26,000. Gilliland Jeter Wealth Management LLC raised its holdings in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares in the last quarter. Finally, Halpern Financial Inc. lifted its position in Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $107.20 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. The business has a 50 day moving average price of $121.42 and a 200-day moving average price of $130.30. The firm has a market cap of $481.06 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 1.44 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly 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 35.03% and a return on equity of 89.69%. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Equities research analysts predict that Novo Nordisk A/S will post 2.87 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday. Finally, BMO Capital Markets lowered their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $144.50.

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.