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

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

Several other large investors have also modified their holdings of the business. NewSquare Capital LLC increased its position in shares of Novo Nordisk A/S by 174.1% during 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 last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in Novo Nordisk A/S during the second quarter worth about $37,000. State of Wyoming acquired a new stake in shares of Novo Nordisk A/S during the first quarter valued at about $38,000. Maseco LLP acquired a new stake in shares of Novo Nordisk A/S during the second quarter valued at about $39,000. Finally, Copeland Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 47.3% in the 2nd quarter. Copeland Capital Management LLC now owns 579 shares of the company’s stock valued at $40,000 after acquiring an additional 186 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $52.61 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.57. Novo Nordisk A/S has a 1-year low of $43.08 and a 1-year high of $93.80. The stock has a market cap of $234.90 billion, a PE ratio of 15.29 and a beta of 0.67. The firm has a fifty day moving average price of $49.40 and a 200 day moving average price of $57.09.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%.The business had revenue of $11.79 billion for the quarter, compared to analysts’ expectations of $11.98 billion. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVO. Jefferies Financial Group started coverage on shares of Novo Nordisk A/S in a research report on Monday, October 27th. They set an “underperform” rating for the company. The Goldman Sachs Group lowered their price target on Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, November 28th. BMO Capital Markets restated a “market perform” rating on shares of Novo Nordisk A/S in a report on Tuesday. Argus restated a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday, December 8th. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. 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 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.