Stratos Investment Management LLC Cuts Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Stratos Investment Management LLC lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 51,487 shares of the company’s stock after selling 682 shares during the quarter. Stratos Investment Management LLC’s holdings in Novo Nordisk A/S were worth $4,429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Novare Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 3.2% during the third 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 last quarter. Rosenberg Matthew Hamilton increased its stake in Novo Nordisk A/S by 2.5% in 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 period. Spinnaker Trust lifted its holdings in Novo Nordisk A/S by 1.1% during the 3rd quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock valued at $1,145,000 after buying an additional 100 shares in the last quarter. Marco Investment Management LLC increased its position 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 worth $798,000 after acquiring an additional 100 shares during the period. Finally, Carr Financial Group Corp increased its position in shares of Novo Nordisk A/S by 5.1% during the third quarter. Carr Financial Group Corp now owns 2,100 shares of the company’s stock worth $250,000 after acquiring an additional 101 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $82.60 on Wednesday. The company has a 50 day moving average of $93.12 and a two-hundred day moving average of $112.54. The company has a market cap 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 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 twelve month low of $78.17 and a twelve month high of $148.15.

Wall Street Analyst Weigh In

NVO has been the topic of several research analyst reports. 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. BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $145.25.

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.