Novo Nordisk A/S (NYSE:NVO) Position Lowered by Freedom Investment Management Inc.

Freedom Investment Management Inc. reduced its position in Novo Nordisk A/S (NYSE:NVO) by 5.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,277 shares of the company’s stock after selling 1,058 shares during the quarter. Freedom Investment Management Inc.’s holdings in Novo Nordisk A/S were worth $2,176,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its position in shares of Novo Nordisk A/S by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after buying an additional 58,935 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Novo Nordisk A/S by 1.0% during the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after purchasing an additional 36,223 shares during the last quarter. Natixis Advisors LLC lifted its holdings 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 purchasing an additional 80,070 shares during the last quarter. International Assets Investment Management LLC boosted its position in Novo Nordisk A/S by 10,608.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after purchasing an additional 1,796,635 shares during the period. Finally, DSM Capital Partners LLC grew its stake in Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after buying an additional 1,593,303 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $106.15 on Wednesday. The stock has a market cap of $476.35 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 1.35 and a beta of 0.42. 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 12 month low of $94.73 and a 12 month 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NVO shares. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. BMO Capital Markets decreased their target price on shares of 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target 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. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $144.50.

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.