Verdence Capital Advisors LLC Has $1.79 Million Stock Holdings in Novo Nordisk A/S $NVO

Verdence Capital Advisors LLC decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 22.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,803 shares of the company’s stock after selling 10,043 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Werba Rubin Papier Wealth Management boosted its position in shares of Novo Nordisk A/S by 4.1% in the second quarter. Werba Rubin Papier Wealth Management now owns 4,378 shares of the company’s stock valued at $302,000 after acquiring an additional 173 shares during the period. Beacon Financial Group increased its position in Novo Nordisk A/S by 4.3% during the third quarter. Beacon Financial Group now owns 4,307 shares of the company’s stock worth $239,000 after acquiring an additional 178 shares during the period. Copeland Capital Management LLC raised its stake in Novo Nordisk A/S by 47.3% during the 2nd quarter. Copeland Capital Management LLC now owns 579 shares of the company’s stock valued at $40,000 after purchasing an additional 186 shares during the last quarter. Kavar Capital Partners Group LLC raised its stake in Novo Nordisk A/S by 0.6% during the 3rd quarter. Kavar Capital Partners Group LLC now owns 32,631 shares of the company’s stock valued at $1,811,000 after purchasing an additional 200 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC boosted its holdings in Novo Nordisk A/S by 5.7% in the 3rd quarter. SeaBridge Investment Advisors LLC now owns 3,735 shares of the company’s stock valued at $207,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $60.70 on Wednesday. The firm has a market capitalization of $271.00 billion, a PE ratio of 17.64 and a beta of 0.66. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 12-month low of $43.08 and a 12-month high of $93.80. The firm has a 50-day moving average price of $51.41 and a 200 day moving average price of $54.76.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, beating 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 company had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.98 billion. Research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NVO. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. CICC Research started coverage on Novo Nordisk A/S in a research report on Friday, January 9th. They set an “outperform” rating and a $73.50 target price on the stock. The Goldman Sachs Group lowered their price target on Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Jefferies Financial Group assumed coverage on Novo Nordisk A/S in a research report on Monday, October 27th. They issued an “underperform” rating for the company. Finally, HSBC reissued a “hold” rating and set a $54.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Hold” and an average price target of $56.21.

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.