Martin Investment Management LLC Has $228,000 Stock Position in Novo Nordisk A/S $NVO

Martin Investment Management LLC lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 98.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,484 shares of the company’s stock after selling 270,722 shares during the period. Martin Investment Management LLC’s holdings in Novo Nordisk A/S were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Channing Global Advisors LLC raised its holdings in shares of Novo Nordisk A/S by 32.0% during the fourth quarter. Channing Global Advisors LLC now owns 31,526 shares of the company’s stock valued at $1,604,000 after purchasing an additional 7,650 shares during the period. Spinnaker Trust increased its position in shares of Novo Nordisk A/S by 12.4% during the fourth quarter. Spinnaker Trust now owns 10,726 shares of the company’s stock worth $546,000 after acquiring an additional 1,186 shares in the last quarter. One Capital Management LLC increased its position in shares of Novo Nordisk A/S by 20.5% during the fourth quarter. One Capital Management LLC now owns 8,634 shares of the company’s stock worth $439,000 after acquiring an additional 1,466 shares in the last quarter. FDx Advisors Inc. increased its position in shares of Novo Nordisk A/S by 5.2% during the fourth quarter. FDx Advisors Inc. now owns 6,017 shares of the company’s stock worth $306,000 after acquiring an additional 298 shares in the last quarter. Finally, Three Bridge Wealth Advisors LLC increased its position in shares of Novo Nordisk A/S by 9.5% during the fourth quarter. Three Bridge Wealth Advisors LLC now owns 35,871 shares of the company’s stock worth $1,825,000 after acquiring an additional 3,110 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVO. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a research report on Tuesday, February 24th. Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Citigroup reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a research report on Tuesday, May 12th. Weiss Ratings downgraded shares of Novo Nordisk A/S from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 22nd. Finally, TD Cowen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $42.00 price objective for the company. in a research report on Tuesday, March 10th. Four research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $65.56.

Novo Nordisk A/S Stock Down 3.4%

NVO opened at $44.01 on Tuesday. The company has a 50 day moving average of $41.12 and a 200 day moving average of $46.34. The company has a market cap of $196.52 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 4.06 and a beta of 0.78. Novo Nordisk A/S has a 12 month low of $35.12 and a 12 month high of $81.44. The company has a current ratio of 0.79, a quick ratio of 0.56 and a debt-to-equity ratio of 0.59.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. The company had revenue of $10.85 billion during the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.46 EPS for the current year.

About Novo Nordisk A/S

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.