TrueMark Investments LLC Grows Position in Novo Nordisk A/S $NVO

TrueMark Investments LLC boosted its holdings in Novo Nordisk A/S (NYSE:NVO) by 343.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 160,416 shares of the company’s stock after acquiring an additional 124,265 shares during the period. Novo Nordisk A/S makes up 1.5% of TrueMark Investments LLC’s portfolio, making the stock its 13th largest holding. TrueMark Investments LLC’s holdings in Novo Nordisk A/S were worth $8,901,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Lockheed Martin Investment Management Co. raised its stake in Novo Nordisk A/S by 179.4% during the 2nd quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock valued at $2,999,000 after purchasing an additional 27,900 shares during the period. Martin Capital Partners LLC boosted its stake in Novo Nordisk A/S by 53.8% in the 3rd quarter. Martin Capital Partners LLC now owns 117,577 shares of the company’s stock worth $6,524,000 after purchasing an additional 41,129 shares during the period. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Novo Nordisk A/S during the 3rd quarter valued at approximately $1,294,000. Guild Investment Management Inc. raised its position in shares of Novo Nordisk A/S by 20.7% during the second quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock valued at $2,553,000 after buying an additional 6,345 shares during the last quarter. Finally, Generate Investment Management Ltd raised its position in shares of Novo Nordisk A/S by 43.2% during the third quarter. Generate Investment Management Ltd now owns 229,962 shares of the company’s stock valued at $12,761,000 after buying an additional 69,423 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of research reports. HSBC restated a “hold” rating and set a $54.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, December 10th. Jefferies Financial Group assumed coverage on shares of Novo Nordisk A/S in a report on Monday, October 27th. They set an “underperform” rating for the company. Morgan Stanley restated an “underweight” rating and set a $42.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, December 3rd. Hsbc Global Res downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, CICC Research initiated coverage on shares of Novo Nordisk A/S in a research report on Friday, January 9th. They issued an “outperform” rating and a $73.50 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $56.21.

Novo Nordisk A/S Stock Down 0.0%

NYSE NVO opened at $62.22 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 52 week low of $43.08 and a 52 week high of $93.80. The firm has a market capitalization of $277.80 billion, a price-to-earnings ratio of 18.09 and a beta of 0.66. The company has a fifty day moving average of $52.13 and a two-hundred day moving average of $54.80.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.25. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. The business had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.98 billion. On average, analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.