Penserra Capital Management LLC Reduces Holdings in Novo Nordisk A/S (NYSE:NVO)

Penserra Capital Management LLC reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 88.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,419 shares of the company’s stock after selling 40,913 shares during the period. Penserra Capital Management LLC’s holdings in Novo Nordisk A/S were worth $645,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new stake in shares of Novo Nordisk A/S in the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S in the second quarter worth about $25,000. Gilliland Jeter Wealth Management LLC raised its stake in shares of Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the period. Halpern Financial Inc. lifted its position in shares of Novo Nordisk A/S by 113.0% during the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after buying an additional 113 shares in the last quarter. Finally, Abound Wealth Management grew its stake in shares of Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after acquiring an additional 157 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $106.12 on Thursday. The company has a market cap of $476.22 billion, a P/E ratio of 34.34, a P/E/G ratio of 1.35 and a beta of 0.42. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15. 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 firm’s fifty day moving average is $113.80 and its two-hundred day moving average is $128.33.

Analyst Ratings Changes

A number of equities research analysts have commented on NVO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. One research 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’s stock. According to MarketBeat.com, Novo Nordisk A/S has a consensus 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.