Harbour Investments Inc. Cuts Stake in Novo Nordisk A/S (NYSE:NVO)

Harbour Investments Inc. lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,132 shares of the company’s stock after selling 587 shares during the period. Harbour Investments Inc.’s holdings in Novo Nordisk A/S were worth $1,325,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in Novo Nordisk A/S by 14.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after acquiring an additional 37,346 shares in the last quarter. Private Wealth Partners LLC grew its stake in Novo Nordisk A/S by 155.1% during the 3rd quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after acquiring an additional 20,188 shares in the last quarter. Buckingham Capital Management Inc. purchased a new stake in Novo Nordisk A/S during the 3rd quarter valued at about $3,874,000. Channel Wealth LLC grew its stake in Novo Nordisk A/S by 15.6% during the 3rd quarter. Channel Wealth LLC now owns 57,353 shares of the company’s stock valued at $6,829,000 after acquiring an additional 7,756 shares in the last quarter. Finally, Independence Bank of Kentucky grew its stake in Novo Nordisk A/S by 192.7% during the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock valued at $1,368,000 after acquiring an additional 7,565 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NVO. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Cantor Fitzgerald restated 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, StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $105.35 on Friday. The firm has a market cap of $472.76 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 1.29 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 quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $119.68 and its two-hundred day moving average is $129.92.

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.