Cantor Fitzgerald Investment Advisors L.P. Invests $1.29 Million in Novo Nordisk A/S $NVO

Key Points

• Cantor Fitzgerald Investment Advisors purchased a new stake of 23,325 shares of Novo Nordisk during Q3, valued at approximately $1.29 million.
• Analyst sentiment is mixed with a MarketBeat consensus of Hold and a $53.33 price target; recent actions include Goldman Sachs cutting its target to $54 (maintaining a buy) while Rothschild Redb upgraded to a strong-buy.
• Novo Nordisk beat Q3 EPS expectations ($1.02 vs. $0.77) despite a slight revenue miss, and shows strong profitability metrics (ROE 73.5%, net margin 32.8%).

Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 23,325 shares of the company's stock, valued at approximately $1,294,000.

A number of other hedge funds also recently added to or reduced their stakes in NVO. NewSquare Capital LLC boosted its stake in Novo Nordisk A/S by 174.1% during the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company's stock valued at $31,000 after purchasing an additional 282 shares during the last quarter. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the second quarter valued at $37,000. State of Wyoming purchased a new stake in shares of Novo Nordisk A/S during the first quarter valued at $38,000. Maseco LLP bought a new stake in Novo Nordisk A/S in the 2nd quarter worth about $39,000. Finally, Copeland Capital Management LLC raised its position in Novo Nordisk A/S by 47.3% in the 2nd quarter. Copeland Capital Management LLC now owns 579 shares of the company's stock worth $40,000 after buying an additional 186 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on NVO. The Goldman Sachs Group lowered their target price on shares of 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. 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. BMO Capital Markets reaffirmed a "market perform" rating on shares of Novo Nordisk A/S in a research report on Tuesday, December 23rd. Morgan Stanley reissued an "underweight" rating and set a $42.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, December 3rd. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Novo Nordisk A/S in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $53.33.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $50.88 on Thursday. The stock has a market cap of $227.18 billion, a P/E ratio of 14.79 and a beta of 0.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78. The stock's fifty day moving average is $49.14 and its 200 day moving average is $56.17. Novo Nordisk A/S has a one year low of $43.08 and a one year high of $93.80.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly 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 during the quarter, compared to analysts' expectations of $11.98 billion. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

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.

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