Graypoint LLC Lowers Stock Position in Novo Nordisk A/S (NYSE:NVO)

Graypoint LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,109 shares of the company’s stock after selling 1,025 shares during the period. Graypoint LLC’s holdings in Novo Nordisk A/S were worth $439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVO. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S in the second quarter worth about $25,000. Abound Wealth Management boosted its position in shares of Novo Nordisk A/S by 257.4% in the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after purchasing an additional 157 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new position in Novo Nordisk A/S during the 3rd quarter valued at approximately $42,000. Finally, Carolina Wealth Advisors LLC purchased a new position in Novo Nordisk A/S during the third quarter valued at $48,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVO. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $140.20.

Novo Nordisk A/S Stock Up 0.9 %

Shares of Novo Nordisk A/S stock opened at $86.41 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. Novo Nordisk A/S has a twelve month low of $81.50 and a twelve month high of $148.15. The company has a market cap of $387.77 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45. The company’s 50 day moving average is $100.35 and its 200 day moving average is $119.21.

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.