Novo Nordisk A/S (NYSE:NVO) Position Trimmed by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. trimmed its stake in Novo Nordisk A/S (NYSE:NVO) by 2.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,383 shares of the company’s stock after selling 635 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Novo Nordisk A/S were worth $2,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Novo Nordisk A/S by 10.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after acquiring an additional 823,036 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Novo Nordisk A/S by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after purchasing an additional 58,935 shares in the last quarter. GQG Partners LLC raised its stake in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after purchasing an additional 3,151,584 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after buying an additional 36,223 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Novo Nordisk A/S by 7.8% in the 1st quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock valued at $304,697,000 after buying an additional 172,003 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NVO. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, 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. One equities 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. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $101.74 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $118.58 and a 200-day simple moving average of $129.58. The stock 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. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15.

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.