Novo Nordisk A/S (NYSE:NVO) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 23.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 101,261 shares of the company’s stock after selling 30,615 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Novo Nordisk A/S were worth $12,057,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NVO. Envestnet Asset Management Inc. grew its holdings in shares of Novo Nordisk A/S by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after acquiring an additional 58,935 shares during the last quarter. Raymond James & Associates increased its stake in Novo Nordisk A/S by 1.0% in the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after purchasing an additional 36,223 shares in the last quarter. Natixis Advisors LLC raised its holdings in 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 worth $366,125,000 after buying an additional 80,070 shares during the period. International Assets Investment Management LLC lifted its stake in Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after buying an additional 1,796,635 shares in the last quarter. Finally, DSM Capital Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after buying an additional 1,593,303 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 1.8 %

NYSE NVO opened at $108.70 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15. The firm’s fifty day simple moving average is $112.81 and its 200-day simple moving average is $127.92. The company has a market capitalization of $487.77 billion, a PE ratio of 35.17, a price-to-earnings-growth ratio of 1.38 and a beta of 0.42.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets dropped their price target 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 research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $144.50.

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.