SouthState Corp Trims Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

SouthState Corp cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 11.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,725 shares of the company’s stock after selling 6,842 shares during the period. SouthState Corp’s holdings in Novo Nordisk A/S were worth $6,040,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NVO. Natixis Advisors LLC raised its holdings in shares of 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 buying an additional 80,070 shares during the period. Zions Bancorporation N.A. increased its stake in Novo Nordisk A/S by 57.0% during the third quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after purchasing an additional 6,726 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Novo Nordisk A/S by 14.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock worth $34,463,000 after purchasing an additional 37,346 shares in the last quarter. Private Wealth Partners LLC boosted its stake in shares of Novo Nordisk A/S by 155.1% in the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after purchasing an additional 20,188 shares during the period. Finally, Buckingham Capital Management Inc. acquired a new position in shares of Novo Nordisk A/S in the third quarter valued at approximately $3,874,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NVO shares. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. BMO Capital Markets cut their price target on 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, Cantor Fitzgerald reiterated 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $99.82 on Tuesday. Novo Nordisk A/S has a 12 month low of $94.73 and a 12 month high of $148.15. 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 company has a market cap of $447.95 billion, a P/E ratio of 32.30, a PEG ratio of 1.31 and a beta of 0.42. The firm has a fifty day moving average price of $117.94 and a 200 day moving average price of $129.42.

About Novo Nordisk A/S

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.