Martin Investment Management LLC Sells 270,722 Shares of Novo Nordisk A/S $NVO

Martin Investment Management LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 98.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,484 shares of the company’s stock after selling 270,722 shares during the period. Martin Investment Management LLC’s holdings in Novo Nordisk A/S were worth $228,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Channing Global Advisors LLC boosted its holdings in Novo Nordisk A/S by 32.0% in the 4th quarter. Channing Global Advisors LLC now owns 31,526 shares of the company’s stock valued at $1,604,000 after purchasing an additional 7,650 shares during the period. Spinnaker Trust boosted its holdings in Novo Nordisk A/S by 12.4% in the 4th quarter. Spinnaker Trust now owns 10,726 shares of the company’s stock valued at $546,000 after purchasing an additional 1,186 shares during the period. One Capital Management LLC boosted its holdings in Novo Nordisk A/S by 20.5% in the 4th quarter. One Capital Management LLC now owns 8,634 shares of the company’s stock valued at $439,000 after purchasing an additional 1,466 shares during the period. FDx Advisors Inc. boosted its holdings in Novo Nordisk A/S by 5.2% in the 4th quarter. FDx Advisors Inc. now owns 6,017 shares of the company’s stock valued at $306,000 after purchasing an additional 298 shares during the period. Finally, Three Bridge Wealth Advisors LLC boosted its holdings in Novo Nordisk A/S by 9.5% in the 4th quarter. Three Bridge Wealth Advisors LLC now owns 35,871 shares of the company’s stock valued at $1,825,000 after purchasing an additional 3,110 shares during the period. 11.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on NVO shares. Sanford C. Bernstein started coverage on shares of Novo Nordisk A/S in a report on Wednesday, March 18th. They issued an “outperform” rating and a $175.00 price target for the company. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novo Nordisk A/S in a report on Tuesday, February 24th. Nordea Equity Research downgraded shares of Novo Nordisk A/S to a “hold” rating in a report on Tuesday, February 24th. Morgan Stanley raised shares of Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $40.00 price target for the company in a report on Tuesday, March 3rd. Finally, Wall Street Zen upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Four analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $65.56.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $44.01 on Tuesday. The stock has a market cap of $196.52 billion, a PE ratio of 10.33, a PEG ratio of 4.06 and a beta of 0.78. The company’s fifty day moving average is $41.12 and its 200 day moving average is $46.34. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $81.44. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Tuesday, March 31st. The company reported $1.03 EPS for the quarter. The company had revenue of $10.85 billion for the quarter. Novo Nordisk A/S had a net margin of 37.23% and a return on equity of 63.31%. Research analysts anticipate that Novo Nordisk A/S will post 3.46 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.