Brookstone Capital Management Reduces Holdings in Novo Nordisk A/S (NYSE:NVO)

Brookstone Capital Management reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 9.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,785 shares of the company’s stock after selling 1,623 shares during the quarter. Brookstone Capital Management’s holdings in Novo Nordisk A/S were worth $1,272,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S in the 2nd quarter valued at $25,000. Daiwa Securities Group Inc. purchased a new stake in Novo Nordisk A/S in the 3rd quarter valued at $28,000. Capital Performance Advisors LLP purchased a new stake in Novo Nordisk A/S in the 3rd quarter valued at $42,000. Carolina Wealth Advisors LLC purchased a new stake in Novo Nordisk A/S in the 3rd quarter valued at $48,000. Finally, M&R Capital Management Inc. grew its holdings in Novo Nordisk A/S by 260.5% in the 3rd quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock valued at $49,000 after buying an additional 297 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NVO opened at $82.99 on Thursday. The stock’s 50-day moving average price is $99.26 and its 200 day moving average price is $118.18. Novo Nordisk A/S has a 12-month low of $80.05 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 firm has a market cap of $372.42 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.37 and a beta of 0.45.

Analysts Set New Price Targets

NVO has been the topic of several recent analyst reports. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Cantor Fitzgerald reaffirmed 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. Finally, 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 research note on Monday, December 23rd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target 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.