Grove Bank & Trust Reduces Stock Position in Novo Nordisk A/S (NYSE:NVO)

Grove Bank & Trust decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 13,131 shares of the company’s stock after selling 181 shares during the quarter. Grove Bank & Trust’s holdings in Novo Nordisk A/S were worth $1,130,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new position in Novo Nordisk A/S in the 2nd quarter worth about $25,000. Daiwa Securities Group Inc. purchased a new position in shares of Novo Nordisk A/S during the third quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new stake in shares of Novo Nordisk A/S during the third quarter valued at approximately $42,000. Carolina Wealth Advisors LLC purchased a new stake in shares of Novo Nordisk A/S in the third quarter valued at approximately $48,000. Finally, M&R Capital Management Inc. grew its stake in Novo Nordisk A/S by 260.5% in the third quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock worth $49,000 after purchasing an additional 297 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $78.74 on Friday. Novo Nordisk A/S has a one year low of $78.17 and a one year high of $148.15. The company has a market capitalization of $353.33 billion, a PE ratio of 25.48, a P/E/G ratio of 0.92 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The company has a 50-day simple moving average of $97.76 and a two-hundred day simple moving average of $117.23.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NVO. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Finally, BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. One investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus 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.