Channel Wealth LLC Sells 7,934 Shares of Novo Nordisk A/S (NYSE:NVO)

Channel Wealth LLC cut its stake in Novo Nordisk A/S (NYSE:NVO) by 13.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 49,419 shares of the company’s stock after selling 7,934 shares during the period. Novo Nordisk A/S makes up about 1.4% of Channel Wealth LLC’s investment portfolio, making the stock its 21st biggest holding. Channel Wealth LLC’s holdings in Novo Nordisk A/S were worth $4,251,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NVO. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S in the second quarter worth $25,000. Daiwa Securities Group Inc. bought a new stake in Novo Nordisk A/S in the third quarter worth $28,000. Capital Performance Advisors LLP bought a new stake in shares of Novo Nordisk A/S during the third quarter worth $42,000. Carolina Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the third quarter worth $48,000. Finally, M&R Capital Management Inc. lifted its position in shares of Novo Nordisk A/S by 260.5% during the third quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock worth $49,000 after purchasing an additional 297 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

NVO opened at $83.26 on Friday. The business’s 50-day moving average is $98.82 and its two-hundred day moving average is $117.93. Novo Nordisk A/S has a 1 year low of $80.05 and a 1 year high of $148.15. 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 firm has a market capitalization of $373.61 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 0.92 and a beta of 0.45.

Analysts Set New Price Targets

Several analysts have recently weighed in on NVO shares. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, BMO Capital Markets cut their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. One investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $140.20.

About Novo Nordisk A/S

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.