Northstar Asset Management Inc. Raises Position in Novo Nordisk A/S $NVO

Northstar Asset Management Inc. raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 31.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 222,348 shares of the company’s stock after purchasing an additional 52,791 shares during the quarter. Novo Nordisk A/S accounts for about 3.2% of Northstar Asset Management Inc.’s holdings, making the stock its 13th biggest position. Northstar Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $12,338,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NVO. Lockheed Martin Investment Management Co. grew its position in shares of Novo Nordisk A/S by 179.4% in the second quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock valued at $2,999,000 after purchasing an additional 27,900 shares during the last quarter. Martin Capital Partners LLC grew its holdings in Novo Nordisk A/S by 53.8% during the 3rd quarter. Martin Capital Partners LLC now owns 117,577 shares of the company’s stock valued at $6,524,000 after buying an additional 41,129 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Novo Nordisk A/S during the third quarter worth $1,294,000. Guild Investment Management Inc. raised its holdings in shares of Novo Nordisk A/S by 20.7% in the second quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock worth $2,553,000 after acquiring an additional 6,345 shares during the last quarter. Finally, Generate Investment Management Ltd increased its position in Novo Nordisk A/S by 43.2% during the 3rd quarter. Generate Investment Management Ltd now owns 229,962 shares of the company’s stock worth $12,761,000 after purchasing an additional 69,423 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NVO. Weiss Ratings reiterated a “sell (d+)” rating on shares of Novo Nordisk A/S in a report on Monday, December 29th. BMO Capital Markets reiterated a “market perform” rating on shares of Novo Nordisk A/S in a report on Wednesday, January 14th. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Jefferies Financial Group initiated coverage on Novo Nordisk A/S in a research note on Monday, October 27th. They issued an “underperform” rating for the company. Finally, CICC Research assumed coverage on Novo Nordisk A/S in a research report on Friday, January 9th. They set an “outperform” rating and a $73.50 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on 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 NYSE:NVO opened at $62.28 on Friday. The company has a market cap of $278.08 billion, a PE ratio of 18.10 and a beta of 0.66. The firm has a 50-day simple moving average of $51.85 and a 200 day simple moving average of $54.85. Novo Nordisk A/S has a fifty-two week low of $43.08 and a fifty-two week high of $93.80. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%.The company had revenue of $11.79 billion for the quarter, compared to analyst estimates of $11.98 billion. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

About Novo Nordisk A/S

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.