Novo Nordisk A/S (NYSE:NVO) Stake Lowered by Grimes & Company Inc.

Grimes & Company Inc. reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 103,680 shares of the company’s stock after selling 2,261 shares during the period. Grimes & Company Inc.’s holdings in Novo Nordisk A/S were worth $8,919,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Natixis Advisors LLC grew its holdings in shares of Novo Nordisk A/S by 2.7% during the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after acquiring an additional 80,070 shares in the last quarter. Norman Fields Gottscho Capital Management LLC boosted its holdings in Novo Nordisk A/S by 45.3% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock worth $5,482,000 after purchasing an additional 19,870 shares in the last quarter. Versant Capital Management Inc bought a new stake in Novo Nordisk A/S in the fourth quarter worth $86,000. Talbot Financial LLC bought a new stake in Novo Nordisk A/S in the fourth quarter worth $4,066,000. Finally, Zions Bancorporation N.A. boosted its holdings in Novo Nordisk A/S by 57.0% in the third quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after purchasing an additional 6,726 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $87.94 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $394.65 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 0.90 and a beta of 0.45. Novo Nordisk A/S has a 1-year low of $78.17 and a 1-year high of $148.15. The firm’s 50-day moving average price is $95.35 and its two-hundred day moving average price is $115.17.

Analysts Set New Price Targets

A number of research firms have weighed in on NVO. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Finally, BMO Capital Markets lowered their target price 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 research 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Company 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.