Novo Nordisk A/S (NYSE:NVO) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management lessened its position in shares of Novo Nordisk A/S (NYSE:NVO) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 203,793 shares of the company’s stock after selling 2,230 shares during the quarter. Novo Nordisk A/S comprises about 1.5% of Meritage Portfolio Management’s investment portfolio, making the stock its 9th largest position. Meritage Portfolio Management’s holdings in Novo Nordisk A/S were worth $24,266,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Novo Nordisk A/S by 14.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after acquiring an additional 37,346 shares during the last quarter. Private Wealth Partners LLC grew its stake in shares of Novo Nordisk A/S by 155.1% during the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock worth $3,953,000 after purchasing an additional 20,188 shares during the period. Independence Bank of Kentucky increased its holdings in Novo Nordisk A/S by 192.7% in the third quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock valued at $1,368,000 after purchasing an additional 7,565 shares during the last quarter. Channel Wealth LLC lifted its stake in Novo Nordisk A/S by 15.6% in the third quarter. Channel Wealth LLC now owns 57,353 shares of the company’s stock valued at $6,829,000 after buying an additional 7,756 shares during the period. Finally, Traynor Capital Management Inc. boosted its holdings in Novo Nordisk A/S by 3.4% during the third quarter. Traynor Capital Management Inc. now owns 305,404 shares of the company’s stock worth $36,364,000 after buying an additional 10,019 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 0.4 %

Shares of NVO stock traded down $0.43 during trading hours on Friday, hitting $107.20. 5,222,612 shares of the company were exchanged, compared to its average volume of 5,255,846. The company has a market capitalization of $481.06 billion, a PE ratio of 34.69, a PEG ratio of 1.44 and a beta of 0.42. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week high of $148.15. The business has a 50 day moving average of $121.42 and a two-hundred day moving average of $130.30. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

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 firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Analysts anticipate that Novo Nordisk A/S will post 2.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday. BMO Capital Markets cut their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Company 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.