Chemung Canal Trust Co. Cuts Stake in Novo Nordisk A/S (NYSE:NVO)

Chemung Canal Trust Co. cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,715 shares of the company’s stock after selling 417 shares during the period. Chemung Canal Trust Co.’s holdings in Novo Nordisk A/S were worth $922,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Novo Nordisk A/S during the second quarter worth $25,000. Daiwa Securities Group Inc. bought a new position in shares of Novo Nordisk A/S during the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new position in shares of Novo Nordisk A/S during the third quarter valued at about $42,000. Albion Financial Group UT increased its holdings in shares of Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after purchasing an additional 278 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of Novo Nordisk A/S by 82.1% in the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after buying an additional 243 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on NVO. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Cantor Fitzgerald reissued 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. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, BMO Capital Markets reduced their price objective 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, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $87.94 on Friday. Novo Nordisk A/S has a 1-year low of $78.17 and a 1-year high of $148.15. The company’s 50-day moving average is $95.62 and its 200 day moving average is $115.55. The firm has a market capitalization of $394.65 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 0.90 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.