Geneos Wealth Management Inc. Lowers Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Geneos Wealth Management Inc. trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,319 shares of the company’s stock after selling 2,483 shares during the period. Geneos Wealth Management Inc.’s holdings in Novo Nordisk A/S were worth $1,662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Novare Capital Management LLC raised its position in shares of Novo Nordisk A/S by 3.2% during the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after purchasing an additional 85 shares during the period. Rosenberg Matthew Hamilton grew its stake in Novo Nordisk A/S by 2.5% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock worth $454,000 after buying an additional 94 shares during the last quarter. Burns J W & Co. Inc. NY increased its position in Novo Nordisk A/S by 1.9% in the third quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock worth $647,000 after buying an additional 100 shares during the period. Spinnaker Trust lifted its stake in Novo Nordisk A/S by 1.1% in the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock valued at $1,145,000 after buying an additional 100 shares during the last quarter. Finally, Marco Investment Management LLC boosted its holdings in shares of Novo Nordisk A/S by 1.5% during the third quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock valued at $798,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Finally, UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $87.94 on Monday. Novo Nordisk A/S has a 1 year low of $78.17 and a 1 year high of $148.15. The firm has a market cap of $394.65 billion, a P/E ratio of 28.46, a PEG ratio of 0.90 and a beta of 0.45. The stock has a fifty day moving average price of $95.35 and a two-hundred day moving average price of $114.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

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.