Fmr LLC Reduces Stock Position in Novo Nordisk A/S (NYSE:NVO)

Fmr LLC trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 8.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,931,577 shares of the company’s stock after selling 1,563,065 shares during the period. Fmr LLC owned approximately 0.40% of Novo Nordisk A/S worth $2,135,113,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisor OS LLC grew its stake in shares of Novo Nordisk A/S by 0.6% during the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after acquiring an additional 82 shares during the period. Cascade Financial Partners LLC raised its position in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after purchasing an additional 84 shares during the period. Novare Capital Management LLC lifted its stake in shares of Novo Nordisk A/S by 3.2% during the 3rd 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 in the last quarter. AA Financial Advisors LLC boosted its holdings in Novo Nordisk A/S by 3.2% in the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after buying an additional 86 shares during the period. Finally, Steel Grove Capital Advisors LLC increased its stake in Novo Nordisk A/S by 2.3% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after buying an additional 86 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the topic of several research analyst reports. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. 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. Finally, BMO Capital Markets cut their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $106.15 on Wednesday. The company has a market cap of $476.35 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42. Novo Nordisk A/S has a twelve month low of $94.73 and a twelve month 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 price is $114.32 and its 200-day moving average price is $128.49.

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.