Central Bank & Trust Co. Boosts Holdings in Novo Nordisk A/S (NYSE:NVO)

Central Bank & Trust Co. increased its stake in Novo Nordisk A/S (NYSE:NVO) by 6,299.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,678 shares of the company’s stock after purchasing an additional 31,183 shares during the quarter. Central Bank & Trust Co.’s holdings in Novo Nordisk A/S were worth $3,772,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NVO. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Orion Capital Management LLC purchased a new stake in Novo Nordisk A/S in the first quarter worth approximately $26,000. Gilliland Jeter Wealth Management LLC raised its stake in 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 during the last quarter. Finally, Halpern Financial Inc. lifted its holdings in Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after acquiring an additional 113 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NVO shares. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, BMO Capital Markets cut their price target on 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 investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. 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 Down 2.0 %

NVO stock opened at $109.72 on Tuesday. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. The company’s 50 day moving average price is $123.74 and its 200 day moving average price is $130.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The firm has a market capitalization of $492.37 billion, a price-to-earnings ratio of 37.58, a PEG ratio of 1.46 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.01 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.