Confluence Wealth Services Inc. Has $280,000 Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Confluence Wealth Services Inc. trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 17.5% during the third quarter, Holdings Channel.com reports. The firm owned 2,354 shares of the company’s stock after selling 500 shares during the period. Confluence Wealth Services Inc.’s holdings in Novo Nordisk A/S were worth $280,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Novo Nordisk A/S by 14.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after purchasing an additional 37,346 shares during the period. Private Wealth Partners LLC raised its position in Novo Nordisk A/S by 155.1% in the 3rd quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after buying an additional 20,188 shares during the last quarter. Independence Bank of Kentucky lifted its stake in Novo Nordisk A/S by 192.7% in the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock valued at $1,368,000 after acquiring an additional 7,565 shares in the last quarter. Traynor Capital Management Inc. raised its holdings in shares of Novo Nordisk A/S by 3.4% in the third quarter. Traynor Capital Management Inc. now owns 305,404 shares of the company’s stock valued at $36,364,000 after purchasing an additional 10,019 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in Novo Nordisk A/S by 453.3% in the first quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock valued at $34,095,000 after purchasing an additional 217,545 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $109.72 on Tuesday. The stock’s fifty day moving average price is $123.74 and its two-hundred day moving average price is $130.85. The firm has a market cap of $492.37 billion, a price-to-earnings ratio of 37.58, a P/E/G ratio of 1.46 and a beta of 0.43. Novo Nordisk A/S has a one year low of $94.73 and a one 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 released its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (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 company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. On average, equities analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current year.

About Novo Nordisk A/S

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.