Vestcor Inc Decreases Stake in Novo Nordisk A/S (NYSE:NVO)

Vestcor Inc lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 40.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,800 shares of the company’s stock after selling 5,200 shares during the period. Vestcor Inc’s holdings in Novo Nordisk A/S were worth $929,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Advisor OS LLC grew its position in shares of Novo Nordisk A/S by 0.6% in the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after purchasing an additional 82 shares in the last quarter. Cascade Financial Partners LLC grew its holdings in Novo Nordisk A/S by 2.3% in the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after buying an additional 84 shares in the last quarter. Novare Capital Management LLC grew its holdings in Novo Nordisk A/S by 3.2% in the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after buying an additional 85 shares in the last quarter. Steel Grove Capital Advisors LLC increased its stake in shares of Novo Nordisk A/S by 2.3% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after acquiring an additional 86 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in shares of Novo Nordisk A/S by 2.6% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,455 shares of the company’s stock worth $493,000 after acquiring an additional 87 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $108.63 on Friday. The stock’s 50-day simple moving average is $110.88 and its 200-day simple moving average is $126.60. The firm has a market capitalization of $487.48 billion, a PE ratio of 35.16, a price-to-earnings-growth ratio of 1.43 and a beta of 0.40. Novo Nordisk A/S has a fifty-two week low of $96.53 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVO. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Buy” and an average target price of $150.40.

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.