Portside Wealth Group LLC Purchases 2,200 Shares of Novo Nordisk A/S (NYSE:NVO)

Portside Wealth Group LLC raised its position in Novo Nordisk A/S (NYSE:NVO) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,015 shares of the company’s stock after buying an additional 2,200 shares during the quarter. Novo Nordisk A/S comprises about 1.2% of Portside Wealth Group LLC’s holdings, making the stock its 17th largest position. Portside Wealth Group LLC’s holdings in Novo Nordisk A/S were worth $7,027,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GQG Partners LLC raised its stake in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after purchasing an additional 3,151,584 shares during the period. International Assets Investment Management LLC raised its stake in shares of Novo Nordisk A/S by 10,608.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after purchasing an additional 1,796,635 shares during the period. DSM Capital Partners LLC raised its stake in shares of Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after purchasing an additional 1,593,303 shares during the period. Acadian Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 1,300.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after purchasing an additional 1,155,313 shares during the period. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at $98,765,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $107.62 on Friday. The business has a 50-day simple moving average of $122.65 and a 200 day simple moving average of $130.59. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market cap of $482.95 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 1.43 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. On average, research analysts forecast that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NVO shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets reduced their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One investment 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. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Company Profile

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.