Novo Nordisk A/S (NYSE:NVO) Holdings Cut by Equitable Trust Co.

Equitable Trust Co. lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 1.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 84,970 shares of the company’s stock after selling 1,108 shares during the quarter. Equitable Trust Co.’s holdings in Novo Nordisk A/S were worth $10,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NVO. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S during the second quarter worth approximately $25,000. Orion Capital Management LLC bought a new stake in Novo Nordisk A/S during the first quarter worth approximately $26,000. Gilliland Jeter Wealth Management LLC grew its position in Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. Finally, Halpern Financial Inc. grew its position in Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 113 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.4 %

Novo Nordisk A/S stock opened at $107.23 on Friday. The company’s fifty day simple moving average is $121.42 and its 200-day simple moving average is $130.30. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 12 month low of $94.73 and a 12 month high of $148.15. The stock has a market cap of $481.20 billion, a P/E ratio of 34.70, a P/E/G ratio of 1.44 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly 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 company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 2.87 EPS for the current fiscal year.

Analysts Set New Price Targets

NVO has been the topic of several recent research reports. BMO Capital Markets decreased 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday. Finally, 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $144.50.

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.