Global Retirement Partners LLC Has $768,000 Position in Novo Nordisk A/S $NVO

Global Retirement Partners LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 51.8% during the third quarter, HoldingsChannel reports. The firm owned 13,840 shares of the company’s stock after selling 14,854 shares during the period. Global Retirement Partners LLC’s holdings in Novo Nordisk A/S were worth $768,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in NVO. Kingstone Capital Partners Texas LLC increased its position in Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after buying an additional 10,001,898 shares during the period. Bank of Montreal Can grew its stake in shares of Novo Nordisk A/S by 101.4% in the second quarter. Bank of Montreal Can now owns 2,475,300 shares of the company’s stock worth $170,845,000 after acquiring an additional 1,246,467 shares during the last quarter. DAVENPORT & Co LLC increased its position in Novo Nordisk A/S by 54.8% during the third quarter. DAVENPORT & Co LLC now owns 2,642,498 shares of the company’s stock worth $146,644,000 after acquiring an additional 935,468 shares during the period. Sustainable Growth Advisers LP raised its stake in Novo Nordisk A/S by 11.7% during the 2nd quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock valued at $427,416,000 after purchasing an additional 649,390 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in Novo Nordisk A/S by 42.6% in the 2nd quarter. Baird Financial Group Inc. now owns 1,476,673 shares of the company’s stock valued at $101,920,000 after purchasing an additional 441,034 shares during the period. Institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NVO shares. Argus reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. HSBC restated a “hold” rating and set a $54.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, December 10th. Finally, CICC Research assumed coverage on Novo Nordisk A/S in a research report on Friday. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Hold” and a consensus target price of $53.33.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $57.34 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.57. The company has a market capitalization of $256.02 billion, a PE ratio of 16.67 and a beta of 0.66. Novo Nordisk A/S has a one year low of $43.08 and a one year high of $93.80. The business has a 50 day simple moving average of $49.47 and a 200 day simple moving average of $55.47.

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

Novo Nordisk A/S 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.