Cullinan Associates Inc. Sells 325 Shares of Novo Nordisk A/S (NYSE:NVO)

Cullinan Associates Inc. lowered its holdings in Novo Nordisk A/S (NYSE:NVO) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,675 shares of the company’s stock after selling 325 shares during the period. Cullinan Associates Inc.’s holdings in Novo Nordisk A/S were worth $746,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. International Assets Investment Management LLC increased its holdings in Novo Nordisk A/S by 10,608.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after acquiring an additional 1,796,635 shares during the period. Mediolanum International Funds Ltd bought a new stake in Novo Nordisk A/S during the 3rd quarter worth approximately $98,765,000. DAVENPORT & Co LLC increased its holdings in Novo Nordisk A/S by 75.1% during the 4th quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock worth $90,477,000 after acquiring an additional 451,641 shares during the period. Wellington Management Group LLP bought a new stake in Novo Nordisk A/S during the 3rd quarter worth approximately $42,017,000. Finally, World Investment Advisors LLC increased its holdings in Novo Nordisk A/S by 2,655.9% during the 3rd quarter. World Investment Advisors LLC now owns 280,409 shares of the company’s stock worth $33,388,000 after acquiring an additional 270,234 shares during the period. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, BMO Capital Markets decreased their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $82.60 on Wednesday. Novo Nordisk A/S has a 52-week low of $78.17 and a 52-week high of $148.15. The stock has a market capitalization of $370.65 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 0.93 and a beta of 0.45. The company has a fifty day moving average of $93.12 and a 200-day moving average of $112.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

About Novo Nordisk A/S

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.