BNC Wealth Management LLC Cuts Holdings in Novo Nordisk A/S (NYSE:NVO)

BNC Wealth Management LLC cut its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.1% during the 4th quarter, Holdings Channel reports. The firm owned 6,806 shares of the company’s stock after selling 149 shares during the quarter. BNC Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVO. International Assets Investment Management LLC boosted its stake in Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after acquiring an additional 1,796,635 shares during the last quarter. DSM Capital Partners LLC boosted its stake in Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares during the last quarter. Mediolanum International Funds Ltd purchased a new position in Novo Nordisk A/S in the third quarter valued at about $98,765,000. Marshall Wace LLP boosted its stake in Novo Nordisk A/S by 34,472.1% in the second quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock valued at $98,696,000 after acquiring an additional 689,441 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Novo Nordisk A/S in the third quarter valued at about $42,017,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $78.74 on Friday. The firm’s 50 day simple moving average is $97.76 and its 200 day simple moving average is $117.23. 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 market capitalization of $353.33 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.45. Novo Nordisk A/S has a 1-year low of $78.17 and a 1-year high of $148.15.

Analysts Set New Price Targets

A number of research analysts have weighed in on NVO shares. BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Buy” and an average price target of $140.20.

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.