Franklin Resources Inc. Decreases Stake in Novo Nordisk A/S (NYSE:NVO)

Franklin Resources Inc. lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 0.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 875,842 shares of the company’s stock after selling 4,405 shares during the quarter. Franklin Resources Inc.’s holdings in Novo Nordisk A/S were worth $104,908,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in NVO. International Assets Investment Management LLC boosted its stake in shares of Novo Nordisk A/S by 10,608.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after buying an additional 1,796,635 shares during the period. DSM Capital Partners LLC lifted its stake in Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after purchasing an additional 1,593,303 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in Novo Nordisk A/S during the third quarter worth approximately $98,765,000. Marshall Wace LLP lifted its stake in Novo Nordisk A/S by 34,472.1% during the second quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after purchasing an additional 689,441 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Novo Nordisk A/S during the third quarter worth approximately $42,017,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NVO shares. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Friday. BMO Capital Markets decreased their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S presently has an average rating of “Buy” and a consensus price target of $150.40.

Novo Nordisk A/S Trading Down 1.5 %

NYSE:NVO opened at $106.95 on Monday. The firm has a market cap of $479.94 billion, a P/E ratio of 34.61, a PEG ratio of 1.43 and a beta of 0.40. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $110.59 and its 200-day simple moving average is $126.17. Novo Nordisk A/S has a 12-month low of $96.53 and a 12-month high of $148.15.

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.