International Assets Investment Management LLC Cuts Position in Novo Nordisk A/S (NYSE:NVO)

International Assets Investment Management LLC reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 98.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,908 shares of the company’s stock after selling 1,793,663 shares during the period. International Assets Investment Management LLC’s holdings in Novo Nordisk A/S were worth $1,742,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Novare Capital Management LLC boosted its holdings in Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after buying an additional 85 shares in the last quarter. Steel Grove Capital Advisors LLC lifted its position in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after acquiring an additional 86 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of Novo Nordisk A/S by 2.6% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,455 shares of the company’s stock worth $493,000 after acquiring an additional 87 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Novo Nordisk A/S by 2.5% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock worth $454,000 after acquiring an additional 94 shares during the period. Finally, Burns J W & Co. Inc. NY increased its stake in Novo Nordisk A/S by 1.9% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock valued at $647,000 after purchasing an additional 100 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Up 2.7 %

Shares of Novo Nordisk A/S stock opened at $85.63 on Thursday. Novo Nordisk A/S has a fifty-two week low of $81.50 and a fifty-two week high of $148.15. The business’s fifty day moving average is $101.38 and its two-hundred day moving average is $120.03. 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 firm has a market cap of $384.27 billion, a PE ratio of 27.71, a P/E/G ratio of 1.37 and a beta of 0.45.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. 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 for the company in a research note on Monday, December 23rd. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Buy” and an average price target of $140.20.

About Novo Nordisk A/S

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.