Ballast Advisors LLC Has $1.99 Million Position in Novo Nordisk A/S (NYSE:NVO)

Ballast Advisors LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,684 shares of the company’s stock after selling 560 shares during the period. Novo Nordisk A/S accounts for 0.6% of Ballast Advisors LLC’s holdings, making the stock its 27th biggest holding. Ballast Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,987,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Advisor OS LLC raised its holdings in shares of Novo Nordisk A/S by 0.6% in the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after purchasing an additional 82 shares during the last quarter. Cascade Financial Partners LLC increased its stake in Novo Nordisk A/S by 2.3% in the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after buying an additional 84 shares during the last quarter. Novare Capital Management LLC grew its holdings in shares of Novo Nordisk A/S by 3.2% in the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after acquiring an additional 85 shares in the last quarter. AA Financial Advisors LLC lifted its holdings in Novo Nordisk A/S by 3.2% during the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after acquiring an additional 86 shares during the period. Finally, Steel Grove Capital Advisors LLC increased its position in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after purchasing an additional 86 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NVO shares. BMO Capital Markets reduced their target price on shares of 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. 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, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. One investment 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’s stock. According to MarketBeat, Novo Nordisk A/S presently has an average rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $108.08 on Wednesday. The firm has a market capitalization of $485.01 billion, a P/E ratio of 37.72, a P/E/G ratio of 1.46 and a beta of 0.42. 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’s 50-day simple moving average is $123.24 and its two-hundred day simple moving average is $130.76. Novo Nordisk A/S has a twelve month low of $94.73 and a twelve month high of $148.15.

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

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.