Novo Nordisk A/S (NYSE:NVO) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 18.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,977 shares of the company’s stock after purchasing an additional 6,821 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Novo Nordisk A/S were worth $5,117,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S in the 2nd quarter valued at approximately $25,000. Gilliland Jeter Wealth Management LLC grew its holdings in shares of Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Novo Nordisk A/S in the 2nd quarter valued at approximately $25,000. Orion Capital Management LLC acquired a new position in Novo Nordisk A/S during the first quarter worth $26,000. Finally, Halpern Financial Inc. boosted its position in Novo Nordisk A/S by 113.0% during the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after purchasing an additional 113 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday. BMO Capital Markets lowered 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. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Stock Down 0.4 %

Shares of NYSE NVO opened at $107.23 on Friday. The firm has a market cap of $481.20 billion, a P/E ratio of 34.70, a price-to-earnings-growth ratio of 1.44 and a beta of 0.42. 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 1 year low of $94.73 and a 1 year high of $148.15. The firm’s 50 day moving average price is $121.42 and its 200 day moving average price is $130.30.

Novo Nordisk A/S (NYSE:NVO) last released 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). Novo Nordisk A/S had a net margin of 35.03% and a return on equity of 89.69%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 2.87 earnings per share for the current 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.