Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Ironsides Asset Advisors LLC

Ironsides Asset Advisors LLC increased its stake in Novo Nordisk A/S (NYSE:NVO) by 106.8% in the third quarter, Holdings Channel reports. The firm owned 6,758 shares of the company’s stock after purchasing an additional 3,490 shares during the period. 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.

Several other large investors also recently bought and sold shares of the stock. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth about $25,000. Orion Capital Management LLC purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at about $26,000. Gilliland Jeter Wealth Management LLC increased 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. increased its holdings in shares of Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 113 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NVO shares. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. BMO Capital Markets dropped their price objective 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $105.35 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The company has a 50 day moving average price of $122.65 and a 200-day moving average price of $130.59. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15. The firm has a market cap of $472.76 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 1.43 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted 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 firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Equities research 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.