Eldred Rock Partners LLC Sells 15,323 Shares of Novo Nordisk A/S (NYSE:NVO)

Eldred Rock Partners LLC lessened its position in shares of Novo Nordisk A/S (NYSE:NVO) by 16.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,851 shares of the company’s stock after selling 15,323 shares during the period. Novo Nordisk A/S accounts for 2.3% of Eldred Rock Partners LLC’s holdings, making the stock its 24th biggest holding. Eldred Rock Partners LLC’s holdings in Novo Nordisk A/S were worth $6,865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Novare Capital Management LLC grew its holdings in Novo Nordisk A/S by 3.2% in the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after purchasing an additional 85 shares during the period. Steel Grove Capital Advisors LLC raised its position in shares of Novo Nordisk A/S by 2.3% during the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after purchasing an additional 86 shares during the period. Rosenberg Matthew Hamilton grew its position in Novo Nordisk A/S by 2.5% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock valued at $454,000 after purchasing an additional 94 shares during the period. Burns J W & Co. Inc. NY increased its stake in Novo Nordisk A/S by 1.9% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock valued at $647,000 after purchasing an additional 100 shares in the last quarter. Finally, Spinnaker Trust raised its holdings in Novo Nordisk A/S by 1.1% during the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock worth $1,145,000 after buying an additional 100 shares during the last quarter. 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 $78.74 on Monday. The stock has a fifty day moving average of $97.76 and a 200-day moving average of $117.05. The stock has a market cap of $353.33 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a fifty-two week low of $78.17 and a fifty-two week high of $148.15.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVO. BMO Capital Markets decreased their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $140.20.

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.