Novo Nordisk A/S (NYSE:NVO) Shares Sold by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC lessened its position in shares of Novo Nordisk A/S (NYSE:NVO) by 37.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,019 shares of the company’s stock after selling 4,731 shares during the period. Agate Pass Investment Management LLC’s holdings in Novo Nordisk A/S were worth $690,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S in the second quarter valued at about $25,000. Daiwa Securities Group Inc. purchased a new stake in Novo Nordisk A/S in the 3rd quarter valued at approximately $28,000. Abound Wealth Management lifted its stake in Novo Nordisk A/S by 257.4% in the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after buying an additional 157 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Novo Nordisk A/S during the third quarter worth $42,000. Finally, Carolina Wealth Advisors LLC acquired a new position in shares of Novo Nordisk A/S in the third quarter worth $48,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NVO. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Finally, BMO Capital Markets reduced 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 investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Trading Down 2.0 %

NYSE:NVO traded down $1.74 during trading hours on Monday, reaching $84.52. 4,285,283 shares of the company were exchanged, compared to its average volume of 6,958,351. Novo Nordisk A/S has a 52-week low of $81.50 and a 52-week high of $148.15. The stock has a 50 day simple moving average of $100.35 and a 200 day simple moving average of $119.04. The firm has a market cap of $379.29 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 1.37 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

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.