Morse Asset Management Inc Sells 20,148 Shares of Novo Nordisk A/S (NYSE:NVO)

Morse Asset Management Inc decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 72.9% in the 3rd quarter, Holdings Channel reports. The firm owned 7,488 shares of the company’s stock after selling 20,148 shares during the quarter. Morse Asset Management Inc’s holdings in Novo Nordisk A/S were worth $892,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in Novo Nordisk A/S by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after purchasing an additional 58,935 shares during the period. Raymond James & Associates grew its position in Novo Nordisk A/S by 1.0% in the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after purchasing an additional 36,223 shares during the period. Natixis Advisors LLC grew its position in Novo Nordisk A/S by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after purchasing an additional 80,070 shares during the period. International Assets Investment Management LLC boosted its holdings in Novo Nordisk A/S by 10,608.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after acquiring an additional 1,796,635 shares during the last quarter. Finally, DSM Capital Partners LLC boosted its holdings in Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after acquiring an additional 1,593,303 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NVO. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, BMO Capital Markets lowered their price objective 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. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Trading Up 0.5 %

Shares of NVO opened at $109.16 on Wednesday. The business’s 50-day moving average price is $112.18 and its 200-day moving average price is $127.59. Novo Nordisk A/S has a twelve month low of $94.73 and a twelve month high of $148.15. The stock has a market cap of $489.86 billion, a PE ratio of 35.33, a P/E/G ratio of 1.40 and a beta of 0.40. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Novo Nordisk A/S Company 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.