Tidal Investments LLC Has $870,000 Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Tidal Investments LLC reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 24.1% in the third quarter, Holdings Channel reports. The institutional investor owned 7,303 shares of the company’s stock after selling 2,315 shares during the period. Tidal Investments LLC’s holdings in Novo Nordisk A/S were worth $870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC bought a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $200,000. Chevy Chase Trust Holdings LLC purchased a new position in shares of Novo Nordisk A/S during the second quarter valued at approximately $553,000. McAdam LLC bought a new stake in Novo Nordisk A/S during the second quarter worth $206,000. Banque Pictet & Cie SA purchased a new stake in Novo Nordisk A/S in the 2nd quarter valued at $1,024,000. Finally, Independence Bank of Kentucky lifted its stake in Novo Nordisk A/S by 67.0% during the 2nd quarter. Independence Bank of Kentucky now owns 3,925 shares of the company’s stock valued at $560,000 after acquiring an additional 1,575 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the subject of several analyst reports. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Saturday. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. BMO Capital Markets cut their target price on 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, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Buy” and a consensus price target of $150.40.

Novo Nordisk A/S Stock Down 17.8 %

Shares of NYSE NVO opened at $85.00 on Friday. Novo Nordisk A/S has a one year low of $81.50 and a one year high of $148.15. The business’s fifty day moving average price is $109.01 and its 200-day moving average price is $125.16. The stock has a market capitalization of $381.44 billion, a PE ratio of 27.51, a P/E/G ratio of 1.37 and a beta of 0.40. 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 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.