Novo Nordisk A/S (NYSE:NVO) Stock Position Decreased by Sigma Planning Corp

Sigma Planning Corp reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,597 shares of the company’s stock after selling 967 shares during the period. Sigma Planning Corp’s holdings in Novo Nordisk A/S were worth $1,857,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after purchasing an additional 823,036 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Novo Nordisk A/S by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after purchasing an additional 58,935 shares during the period. GQG Partners LLC increased its position in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after purchasing an additional 3,151,584 shares during the period. Raymond James & Associates lifted its holdings in shares of Novo Nordisk A/S by 1.0% in the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after buying an additional 36,223 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in Novo Nordisk A/S by 7.8% during the first quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock valued at $304,697,000 after buying an additional 172,003 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVO. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, BMO Capital Markets cut their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $109.11 on Tuesday. The company’s fifty day moving average is $121.42 and its two-hundred day moving average is $130.34. The company has a market cap of $489.63 billion, a P/E ratio of 35.31, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

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.