Borer Denton & Associates Inc. Cuts Position in Novo Nordisk A/S (NYSE:NVO)

Borer Denton & Associates Inc. reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 114,472 shares of the company’s stock after selling 750 shares during the quarter. Novo Nordisk A/S makes up approximately 4.6% of Borer Denton & Associates Inc.’s holdings, making the stock its 6th biggest position. Borer Denton & Associates Inc.’s holdings in Novo Nordisk A/S were worth $13,630,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVO. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC raised its stake in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. Halpern Financial Inc. boosted its holdings in shares of Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after buying an additional 113 shares during the last quarter. Finally, Abound Wealth Management grew its stake in shares of Novo Nordisk A/S by 257.4% in the second quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after buying an additional 157 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $105.06 on Friday. The firm has a market capitalization of $471.46 billion, a PE ratio of 34.00, a PEG ratio of 1.32 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. The company’s 50-day moving average is $115.48 and its 200-day moving average is $128.80. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15.

Analyst Upgrades and Downgrades

Several analysts have 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 research report on Friday, November 1st. BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated 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 investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target 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.