Novo Nordisk A/S (NYSE:NVO) is South Street Advisors LLC’s 8th Largest Position

South Street Advisors LLC lowered its stake in shares of Novo Nordisk A/S (NYSE:NVOFree Report) by 19.4% during the third quarter, Holdings Channel.com reports. The firm owned 186,531 shares of the company’s stock after selling 44,988 shares during the quarter. Novo Nordisk A/S makes up about 3.4% of South Street Advisors LLC’s investment portfolio, making the stock its 8th biggest position. South Street Advisors LLC’s holdings in Novo Nordisk A/S were worth $22,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVO. 1620 Investment Advisors Inc. purchased a new stake in shares of Novo Nordisk A/S during the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $25,000. Orion Capital Management LLC purchased a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $26,000. Gilliland Jeter Wealth Management LLC raised its stake in shares of Novo Nordisk A/S by 200.0% during the 2nd 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. Finally, 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. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NVO stock traded down $3.58 during trading hours on Friday, reaching $101.74. The company had a trading volume of 8,076,248 shares, compared to its average volume of 4,457,389. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15. The company has a market capitalization of $456.56 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 1.31 and a beta of 0.42. 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 stock has a fifty day moving average of $118.58 and a 200-day moving average of $129.58.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVO. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, BMO Capital Markets reduced their target price on 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Buy” and a consensus price target of $144.50.

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Novo Nordisk A/S Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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