Borer Denton & Associates Inc. Lowers Holdings in Novo Nordisk A/S $NVO

Borer Denton & Associates Inc. trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 21.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,219 shares of the company’s stock after selling 22,722 shares during the period. Novo Nordisk A/S comprises 1.5% of Borer Denton & Associates Inc.’s holdings, making the stock its 19th largest position. Borer Denton & Associates Inc.’s holdings in Novo Nordisk A/S were worth $4,562,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of NVO. CWM LLC increased its holdings in shares of Novo Nordisk A/S by 35.0% during the 3rd quarter. CWM LLC now owns 145,793 shares of the company’s stock valued at $8,090,000 after purchasing an additional 37,795 shares in the last quarter. Iams Wealth Management LLC grew its position in Novo Nordisk A/S by 34.4% during the third quarter. Iams Wealth Management LLC now owns 49,278 shares of the company’s stock valued at $2,734,000 after buying an additional 12,617 shares during the period. World Investment Advisors grew its position in Novo Nordisk A/S by 3.6% during the third quarter. World Investment Advisors now owns 18,109 shares of the company’s stock valued at $1,005,000 after buying an additional 635 shares during the period. Brookstone Capital Management increased its holdings in Novo Nordisk A/S by 8.2% in the third quarter. Brookstone Capital Management now owns 23,853 shares of the company’s stock valued at $1,324,000 after buying an additional 1,816 shares in the last quarter. Finally, ARS Investment Partners LLC raised its position in shares of Novo Nordisk A/S by 69.6% in the third quarter. ARS Investment Partners LLC now owns 153,916 shares of the company’s stock worth $8,541,000 after acquiring an additional 63,155 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of analyst reports. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Jefferies Financial Group began coverage on Novo Nordisk A/S in a report on Monday, October 27th. They issued an “underperform” rating on the stock. Argus restated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. HSBC reiterated a “hold” rating and set a $54.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, December 10th. Finally, Sanford C. Bernstein raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Hold” and a consensus price target of $53.33.

Novo Nordisk A/S Stock Up 1.9%

Shares of NYSE:NVO opened at $52.61 on Friday. Novo Nordisk A/S has a 52-week low of $43.08 and a 52-week high of $93.80. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $49.40 and a two-hundred day moving average of $57.09. The stock has a market cap of $234.90 billion, a P/E ratio of 15.29 and a beta of 0.67.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.25. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. The firm had revenue of $11.79 billion for the quarter, compared to analysts’ expectations of $11.98 billion. On average, research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.