Novo Nordisk A/S (NYSE:NVO) Shares Sold by Northstar Asset Management Inc.

Northstar Asset Management Inc. trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,608 shares of the company’s stock after selling 4,104 shares during the period. Novo Nordisk A/S comprises approximately 4.2% of Northstar Asset Management Inc.’s holdings, making the stock its 7th largest holding. Northstar Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $17,218,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NVO. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S during the second quarter worth approximately $25,000. Orion Capital Management LLC acquired a new position in shares of Novo Nordisk A/S during 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 purchasing an additional 120 shares during the last quarter. Finally, Halpern Financial Inc. lifted its position in shares of 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 acquiring an additional 113 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on NVO. 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 research note on Thursday, October 17th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Trading Up 0.4 %

Shares of NYSE:NVO opened at $110.15 on Wednesday. The company has a market capitalization of $494.30 billion, a P/E 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. The business’s 50 day simple moving average is $123.24 and its 200 day simple moving average is $130.76. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, 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.