Hodges Capital Management Inc. Lowers Position in Novo Nordisk A/S (NYSE:NVO)

Hodges Capital Management Inc. decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 9.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 88,226 shares of the company’s stock after selling 9,342 shares during the period. Hodges Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $10,505,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NVO. International Assets Investment Management LLC increased its holdings in Novo Nordisk A/S by 10,608.4% during the third 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 boosted its position in Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at $98,765,000. Marshall Wace LLP raised its position in shares of Novo Nordisk A/S by 34,472.1% in the 2nd quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after acquiring an additional 689,441 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Novo Nordisk A/S during the 3rd quarter worth $42,017,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $110.77 on Friday. The company has a 50 day moving average price of $111.31 and a 200 day moving average price of $127.12. The firm has a market capitalization of $497.08 billion, a P/E ratio of 35.85, a PEG ratio of 1.38 and a beta of 0.40. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week high of $148.15.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. BMO Capital Markets cut their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $150.40.

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.