Fmr LLC Trims Stake in Novo Nordisk A/S (NYSE:NVO)

Fmr LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,931,577 shares of the company’s stock after selling 1,563,065 shares during the period. Fmr LLC’s holdings in Novo Nordisk A/S were worth $2,135,113,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NVO. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S in the second quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC raised its position in 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 valued at $26,000 after purchasing an additional 120 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 $28,000. Finally, Halpern Financial Inc. grew its position in shares of Novo Nordisk A/S by 113.0% during the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 113 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $106.15 on Wednesday. The firm has a market capitalization of $476.35 billion, a P/E ratio of 34.35, a PEG ratio of 1.35 and a beta of 0.42. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week 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 has a 50 day moving average price of $114.32 and a 200 day moving average price of $128.49.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $144.50.

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.