Novo Nordisk A/S (NVO) Stake Decreased by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 3.3% during the first quarter, HoldingsChannel reports. The firm owned 11,865 shares of the company’s stock after selling 400 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Novo Nordisk A/S were worth $621,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVO. Boston Partners bought a new position in shares of Novo Nordisk A/S during the fourth quarter worth $99,963,000. Fisher Asset Management LLC boosted its position in shares of Novo Nordisk A/S by 2.9% during the fourth quarter. Fisher Asset Management LLC now owns 14,202,935 shares of the company’s stock worth $654,329,000 after purchasing an additional 405,531 shares in the last quarter. Avalon Advisors LLC boosted its position in shares of Novo Nordisk A/S by 494.7% during the fourth quarter. Avalon Advisors LLC now owns 422,932 shares of the company’s stock worth $19,484,000 after purchasing an additional 351,810 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Novo Nordisk A/S by 897.5% during the fourth quarter. Two Sigma Advisers LP now owns 278,300 shares of the company’s stock worth $12,821,000 after purchasing an additional 250,400 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Novo Nordisk A/S during the fourth quarter worth $11,418,000. 7.04% of the stock is currently owned by institutional investors.

NVO traded down $0.37 on Tuesday, reaching $47.00. The company had a trading volume of 26,058 shares, compared to its average volume of 1,387,776. Novo Nordisk A/S has a fifty-two week low of $41.23 and a fifty-two week high of $52.83. The firm has a market cap of $114.55 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 2.17 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.79 and a current ratio of 0.96.



A number of brokerages have recently weighed in on NVO. Zacks Investment Research cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Pareto Securities cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Credit Suisse Group raised shares of Novo Nordisk A/S from a “neutral” rating to an “outperform” rating in a research report on Monday, April 29th. BNP Paribas began coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 29th. They issued an “outperform” rating on the stock. Finally, Barclays reaffirmed a “sell” rating on shares of Novo Nordisk A/S in a research report on Tuesday, February 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $52.31.

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About Novo Nordisk A/S

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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