Portside Wealth Group LLC Has $7.03 Million Holdings in Novo Nordisk A/S (NYSE:NVO)

Portside Wealth Group LLC boosted its holdings in Novo Nordisk A/S (NYSE:NVO) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,015 shares of the company’s stock after buying an additional 2,200 shares during the quarter. Novo Nordisk A/S makes up 1.2% of Portside Wealth Group LLC’s holdings, making the stock its 17th biggest holding. Portside Wealth Group LLC’s holdings in Novo Nordisk A/S were worth $7,027,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S in the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Novo Nordisk A/S during the second quarter worth about $25,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the first quarter worth about $26,000. Gilliland Jeter Wealth Management LLC raised its position in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Finally, Halpern Financial Inc. raised its position in shares of Novo Nordisk A/S by 113.0% during the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after acquiring an additional 113 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NVO has been the subject of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday. BMO Capital Markets lowered their price objective 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. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. 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. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Stock Up 2.1 %

Shares of NYSE:NVO opened at $107.62 on Friday. The business’s 50 day moving average is $122.65 and its 200 day moving average is $130.59. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15. 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 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 business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal 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.