Ironsides Asset Advisors LLC Raises Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Ironsides Asset Advisors LLC raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 106.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,758 shares of the company’s stock after acquiring an additional 3,490 shares during the quarter. Ironsides Asset Advisors LLC’s holdings in Novo Nordisk A/S were worth $805,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. 1620 Investment Advisors Inc. purchased a new position in Novo Nordisk A/S in the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Novo Nordisk A/S during the second quarter worth approximately $25,000. Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter valued at approximately $26,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the period. Finally, Halpern Financial Inc. grew its stake in Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO opened at $105.35 on Thursday. The firm has a market capitalization of $472.76 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 1.43 and a beta of 0.42. The business’s 50-day moving average is $122.65 and its two-hundred day moving average is $130.59. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.91 billion. Research analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NVO. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday. Finally, BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus 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.