Kanawha Capital Management LLC Has $244,000 Stake in Novo Nordisk A/S (NYSE:NVO)

Kanawha Capital Management LLC decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 4.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,052 shares of the company’s stock after selling 96 shares during the period. Kanawha Capital Management LLC’s holdings in Novo Nordisk A/S were worth $244,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NVO. Wealth Enhancement Advisory Services LLC increased its position in Novo Nordisk A/S by 14.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock worth $34,463,000 after buying an additional 37,346 shares during the period. Private Wealth Partners LLC increased its stake in shares of Novo Nordisk A/S by 155.1% in the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after buying an additional 20,188 shares during the period. Independence Bank of Kentucky raised its position in Novo Nordisk A/S by 192.7% during the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after purchasing an additional 7,565 shares during the last quarter. Traynor Capital Management Inc. boosted its stake in shares of Novo Nordisk A/S by 3.4% in the 3rd quarter. Traynor Capital Management Inc. now owns 305,404 shares of the company’s stock valued at $36,364,000 after purchasing an additional 10,019 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in Novo Nordisk A/S by 453.3% during the first quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock worth $34,095,000 after purchasing an additional 217,545 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NVO. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, October 10th. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a 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 note on Friday. One 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Down 2.0 %

Shares of Novo Nordisk A/S stock opened at $109.72 on Tuesday. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The firm has a market cap of $492.37 billion, a price-to-earnings ratio of 37.58, a PEG ratio of 1.46 and a beta of 0.43. The company has a 50-day moving average of $123.74 and a 200 day moving average of $130.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

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 analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Profile

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.