Cynosure Group LLC Cuts Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Cynosure Group LLC reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,707 shares of the company’s stock after selling 214 shares during the quarter. Cynosure Group LLC’s holdings in Novo Nordisk A/S were worth $918,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the business. Natixis Advisors LLC increased its stake in shares of Novo Nordisk A/S by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after acquiring an additional 80,070 shares in the last quarter. Zions Bancorporation N.A. increased its holdings in Novo Nordisk A/S by 57.0% in the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after buying an additional 6,726 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Novo Nordisk A/S by 14.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock worth $34,463,000 after purchasing an additional 37,346 shares during the period. Private Wealth Partners LLC increased its position in Novo Nordisk A/S by 155.1% during the third 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 during the last quarter. Finally, Buckingham Capital Management Inc. purchased a new position in shares of Novo Nordisk A/S in the third quarter worth approximately $3,874,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Up 1.5 %

Shares of NVO opened at $106.15 on Wednesday. The company has a market capitalization of $476.35 billion, a price-to-earnings ratio of 34.35, a PEG 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 stock’s 50-day moving average price is $114.32 and its 200-day moving average price is $128.49. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Wall Street Analyst Weigh In

A number of research firms recently commented on NVO. Cantor Fitzgerald reissued an “overweight” rating and issued 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 cut their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Buy” and an average target price of $144.50.

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.