Parsec Financial Management Inc. cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 395,841 shares of the company’s stock after selling 4,282 shares during the period. Novo Nordisk A/S accounts for approximately 1.3% of Parsec Financial Management Inc.’s portfolio, making the stock its 27th biggest holding. Parsec Financial Management Inc.’s holdings in Novo Nordisk A/S were worth $20,465,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of NVO. Renaissance Technologies LLC increased its stake in shares of Novo Nordisk A/S by 5.5% in the second quarter. Renaissance Technologies LLC now owns 22,521,916 shares of the company’s stock worth $1,149,519,000 after purchasing an additional 1,177,000 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in Novo Nordisk A/S by 102.9% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 1,901,826 shares of the company’s stock valued at $97,069,000 after acquiring an additional 964,364 shares during the period. Jennison Associates LLC increased its stake in Novo Nordisk A/S by 89.5% during the second quarter. Jennison Associates LLC now owns 1,229,986 shares of the company’s stock valued at $62,778,000 after acquiring an additional 580,944 shares during the period. Fisher Asset Management LLC increased its stake in Novo Nordisk A/S by 2.2% during the second quarter. Fisher Asset Management LLC now owns 14,901,234 shares of the company’s stock valued at $760,559,000 after acquiring an additional 321,562 shares during the period. Finally, Charles Schwab Investment Management Inc. bought a new position in Novo Nordisk A/S during the second quarter valued at about $15,187,000. Institutional investors and hedge funds own 7.34% of the company’s stock.
NYSE NVO traded up $0.81 during trading on Thursday, reaching $54.31. 42,553 shares of the company traded hands, compared to its average volume of 1,216,653. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 1.04. The stock’s 50 day moving average price is $51.76 and its two-hundred day moving average price is $50.16. The company has a market cap of $126.69 billion, a price-to-earnings ratio of 21.56, a P/E/G ratio of 2.23 and a beta of 0.58. Novo Nordisk A/S has a 1-year low of $41.59 and a 1-year high of $53.80.
Several brokerages recently issued reports on NVO. Pareto Securities upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Bank of America boosted their price target on Novo Nordisk A/S from $355.00 to $400.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. ValuEngine lowered Novo Nordisk A/S from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 5th. Jefferies Financial Group lowered Novo Nordisk A/S from a “hold” rating to an “underperform” rating in a research note on Friday, August 30th. Finally, Citigroup upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $159.65.
Novo Nordisk A/S Company Profile
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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