Hanlon Investment Management Inc. Increases Stock Position in Novo Nordisk A/S (NYSE:NVO)

Hanlon Investment Management Inc. boosted its stake in Novo Nordisk A/S (NYSE:NVO) by 22.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,779 shares of the company’s stock after purchasing an additional 330 shares during the quarter. Hanlon Investment Management Inc.’s holdings in Novo Nordisk A/S were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Central Bank & Trust Co. raised its stake in Novo Nordisk A/S by 6,299.6% in the third quarter. Central Bank & Trust Co. now owns 31,678 shares of the company’s stock valued at $3,772,000 after purchasing an additional 31,183 shares in the last quarter. Martin Investment Management LLC grew its position in Novo Nordisk A/S by 1.8% during the third quarter. Martin Investment Management LLC now owns 292,419 shares of the company’s stock valued at $34,818,000 after acquiring an additional 5,207 shares during the last quarter. FSM Wealth Advisors LLC grew its position in Novo Nordisk A/S by 2.4% during the third quarter. FSM Wealth Advisors LLC now owns 5,199 shares of the company’s stock valued at $619,000 after acquiring an additional 121 shares during the last quarter. Quintet Private Bank Europe S.A. grew its position in Novo Nordisk A/S by 17.9% during the third quarter. Quintet Private Bank Europe S.A. now owns 11,065 shares of the company’s stock valued at $1,318,000 after acquiring an additional 1,676 shares during the last quarter. Finally, PDS Planning Inc grew its position in Novo Nordisk A/S by 5.8% during the third quarter. PDS Planning Inc now owns 13,122 shares of the company’s stock valued at $1,562,000 after acquiring an additional 723 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVO. Cantor Fitzgerald reiterated 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. 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. Finally, BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Stock Up 0.4 %

Shares of Novo Nordisk A/S stock opened at $110.15 on Wednesday. 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 52-week low of $94.73 and a 52-week high of $148.15. The stock has a market capitalization of $494.30 billion, a price-to-earnings ratio of 37.72, a P/E/G ratio of 1.46 and a beta of 0.42. The company’s 50 day moving average price is $123.24 and its 200-day moving average price is $130.76.

Novo Nordisk A/S (NYSE:NVO) last released 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). The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Equities research analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current year.

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.