87,191 Shares in Novo Nordisk A/S $NVO Bought by Shorepoint Capital Partners LLC

Shorepoint Capital Partners LLC purchased a new stake in Novo Nordisk A/S (NYSE:NVO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 87,191 shares of the company’s stock, valued at approximately $4,838,000.

A number of other hedge funds also recently made changes to their positions in the stock. NewSquare Capital LLC lifted its position in shares of Novo Nordisk A/S by 174.1% in the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after purchasing an additional 282 shares during the period. Disciplina Capital Management LLC raised its stake in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after buying an additional 297 shares during the last quarter. Mid American Wealth Advisory Group Inc. acquired a new position in Novo Nordisk A/S in the second quarter valued at $37,000. State of Wyoming bought a new stake in Novo Nordisk A/S during the first quarter valued at $38,000. Finally, Maseco LLP acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth about $39,000. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NVO shares. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Jefferies Financial Group initiated coverage on Novo Nordisk A/S in a report on Monday, October 27th. They set an “underperform” rating on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Novo Nordisk A/S in a research note on Monday, December 8th. Rothschild Redb upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 16th. Finally, Sanford C. Bernstein raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Hold” and a consensus target price of $53.33.

Novo Nordisk A/S Stock Performance

NVO opened at $50.38 on Tuesday. The company has a market cap of $224.93 billion, a price-to-earnings ratio of 14.64 and a beta of 0.67. The company’s fifty day moving average price is $50.67 and its two-hundred day moving average price is $58.16. Novo Nordisk A/S has a 1-year low of $43.08 and a 1-year high of $109.88. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

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