Novo Nordisk A/S (NYSE:NVO) Shares Bought by Martin Investment Management LLC

by · The Markets Daily

Martin Investment Management LLC lifted its stake in Novo Nordisk A/S (NYSE:NVO – Free Report) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 292,419 shares of the company’s stock after acquiring an additional 5,207 shares during the quarter. Novo Nordisk A/S makes up approximately 8.5% of Martin Investment Management LLC’s investment portfolio, making the stock its largest position. Martin Investment Management LLC’s holdings in Novo Nordisk A/S were worth $34,818,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in Novo Nordisk A/S by 14.8% in 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 period. Private Wealth Partners LLC increased its stake in Novo Nordisk A/S by 155.1% during the 3rd quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock worth $3,953,000 after acquiring an additional 20,188 shares during the period. Independence Bank of Kentucky lifted its position in shares of Novo Nordisk A/S by 192.7% during the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock valued at $1,368,000 after acquiring an additional 7,565 shares during the period. Traynor Capital Management Inc. grew its holdings in shares of Novo Nordisk A/S by 3.4% during the 3rd quarter. Traynor Capital Management Inc. now owns 305,404 shares of the company’s stock worth $36,364,000 after purchasing an additional 10,019 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Novo Nordisk A/S by 453.3% in the first quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock worth $34,095,000 after purchasing an additional 217,545 shares during the period. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $144.50.

Check Out Our Latest Analysis on NVO

Novo Nordisk A/S Price Performance

NVO stock opened at $109.72 on Tuesday. The company has a market capitalization of $492.37 billion, a P/E ratio of 37.58, a PEG ratio of 1.46 and a beta of 0.42. The company has a fifty day moving average price of $123.74 and a 200-day moving average price of $130.85. 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.

Novo Nordisk A/S (NYSE:NVO – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. As a group, equities analysts expect that Novo Nordisk A/S will post 3.01 EPS for the current year.

About Novo Nordisk A/S

(Free Report)

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.

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