Lockheed Martin Investment Management Co. Reduces Stock Position in Novo Nordisk A/S $NVO

Lockheed Martin Investment Management Co. trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 35.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,950 shares of the company’s stock after selling 15,500 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Novo Nordisk A/S were worth $1,551,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its stake in shares of Novo Nordisk A/S by 209.8% during the 3rd quarter. True Wealth Design LLC now owns 443 shares of the company’s stock valued at $25,000 after purchasing an additional 300 shares during the period. NewSquare Capital LLC grew its holdings in Novo Nordisk A/S by 174.1% during the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after buying an additional 282 shares in the last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in Novo Nordisk A/S during the 2nd quarter valued at about $37,000. Maseco LLP bought a new stake in shares of Novo Nordisk A/S during the second quarter valued at about $39,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Novo Nordisk A/S in the third quarter worth about $39,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NVO. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novo Nordisk A/S in a research note on Monday, December 29th. Jefferies Financial Group started coverage on shares of Novo Nordisk A/S in a research report on Monday, October 27th. They set an “underperform” rating for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Novo Nordisk A/S in a research report on Thursday. Argus restated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. Finally, HSBC reaffirmed a “hold” rating and issued a $54.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S has an average rating of “Hold” and an average target price of $56.21.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $62.28 on Friday. The business’s 50-day moving average price is $51.85 and its 200-day moving average price is $54.85. The firm has a market capitalization of $278.08 billion, a PE ratio of 18.10 and a beta of 0.66. Novo Nordisk A/S has a 12 month low of $43.08 and a 12 month high of $93.80. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.25. The business had revenue of $11.79 billion during the quarter, compared to analyst estimates of $11.98 billion. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%. Sell-side analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.