Logan Capital Management Inc. Trims Stock Position in Novo Nordisk A/S (NYSE:NVO)

Logan Capital Management Inc. reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,413 shares of the company’s stock after selling 117 shares during the quarter. Logan Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $3,502,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. 1620 Investment Advisors Inc. purchased a new position in Novo Nordisk A/S in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S in the second quarter valued at about $25,000. Gilliland Jeter Wealth Management LLC increased its stake in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the period. Daiwa Securities Group Inc. purchased a new position in Novo Nordisk A/S during the third quarter worth about $28,000. Finally, Abound Wealth Management lifted its position in 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 purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NVO. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Friday. Cantor Fitzgerald reiterated 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. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, BMO Capital Markets cut their price target 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 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $150.40.

Novo Nordisk A/S Stock Down 1.5 %

Shares of NYSE:NVO opened at $106.96 on Friday. 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 has a market capitalization of $479.99 billion, a P/E ratio of 34.61, a P/E/G ratio of 1.43 and a beta of 0.40. Novo Nordisk A/S has a 52-week low of $96.53 and a 52-week high of $148.15. The stock’s fifty day simple moving average is $110.59 and its 200-day simple moving average is $126.27.

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.