Comgest Global Investors S.A.S. Cuts Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Comgest Global Investors S.A.S. decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,898 shares of the company’s stock after selling 856 shares during the period. Comgest Global Investors S.A.S.’s holdings in Novo Nordisk A/S were worth $5,584,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Advisor OS LLC boosted its position in shares of Novo Nordisk A/S by 0.6% during the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after buying an additional 82 shares during the last quarter. Cascade Financial Partners LLC boosted its position in shares of Novo Nordisk A/S by 2.3% during the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after buying an additional 84 shares during the last quarter. Novare Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after buying an additional 85 shares during the last quarter. AA Financial Advisors LLC boosted its position in shares of Novo Nordisk A/S by 3.2% during the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after buying an additional 86 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC boosted its position in Novo Nordisk A/S by 2.3% in the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after purchasing an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on NVO shares. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NVO traded down $3.58 during mid-day trading on Friday, hitting $101.74. The stock had a trading volume of 8,076,248 shares, compared to its average volume of 4,457,389. The firm has a market cap of $456.56 billion, a P/E ratio of 32.93, a PEG ratio of 1.31 and a beta of 0.42. The business has a fifty day moving average price of $118.58 and a 200-day moving average price of $129.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week high of $148.15.

Novo Nordisk A/S 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.