Old Port Advisors Sells 1,400 Shares of Novo Nordisk A/S (NYSE:NVO)

Old Port Advisors reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 27.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,694 shares of the company’s stock after selling 1,400 shares during the quarter. Old Port Advisors’ holdings in Novo Nordisk A/S were worth $318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Natixis Advisors LLC lifted its position in Novo Nordisk A/S by 2.7% during the third 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 in the last quarter. Zions Bancorporation N.A. lifted its position in shares of Novo Nordisk A/S by 57.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock valued at $2,207,000 after buying an additional 6,726 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Novo Nordisk A/S by 14.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after acquiring an additional 37,346 shares during the period. LRI Investments LLC raised its stake in Novo Nordisk A/S by 103.4% during the 3rd quarter. LRI Investments LLC now owns 12,884 shares of the company’s stock worth $1,534,000 after acquiring an additional 6,550 shares during the period. Finally, Destination Wealth Management raised its stake in Novo Nordisk A/S by 5.8% during the 3rd quarter. Destination Wealth Management now owns 158,898 shares of the company’s stock worth $18,920,000 after acquiring an additional 8,780 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NVO. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald reissued 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $87.52 on Friday. The business’s 50-day moving average is $104.10 and its 200 day moving average is $121.96. Novo Nordisk A/S has a 12 month low of $81.50 and a 12 month high of $148.15. The company has a market capitalization of $392.75 billion, a P/E ratio of 28.32, a P/E/G ratio of 1.37 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.

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.