Carnegie Investment Counsel Lowers Stock Position in Novo Nordisk A/S (NYSE:NVO)

Carnegie Investment Counsel cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,545 shares of the company’s stock after selling 14,949 shares during the quarter. Carnegie Investment Counsel’s holdings in Novo Nordisk A/S were worth $17,079,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. grew its holdings in Novo Nordisk A/S by 9.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 19,742 shares of the company’s stock worth $1,698,000 after purchasing an additional 1,701 shares during the period. StrongBox Wealth LLC bought a new stake in shares of Novo Nordisk A/S in the 4th quarter worth approximately $282,000. Carolina Wealth Advisors LLC grew its stake in shares of Novo Nordisk A/S by 308.9% in the 4th quarter. Carolina Wealth Advisors LLC now owns 1,656 shares of the company’s stock worth $142,000 after buying an additional 1,251 shares during the last quarter. Essex Savings Bank increased its position in Novo Nordisk A/S by 8.0% during the 4th quarter. Essex Savings Bank now owns 9,636 shares of the company’s stock valued at $829,000 after buying an additional 715 shares in the last quarter. Finally, Sendero Wealth Management LLC raised its stake in Novo Nordisk A/S by 35.4% during the fourth quarter. Sendero Wealth Management LLC now owns 46,413 shares of the company’s stock valued at $3,992,000 after buying an additional 12,142 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $83.26 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $373.61 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 0.92 and a beta of 0.45. The firm’s 50 day moving average price is $98.82 and its 200-day moving average price is $117.93. Novo Nordisk A/S has a twelve month low of $80.05 and a twelve month high of $148.15.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NVO. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Buy” and an average target price of $140.20.

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.