Penserra Capital Management LLC Lowers Stake in Novo Nordisk A/S (NYSE:NVO)

Penserra Capital Management LLC lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 88.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,419 shares of the company’s stock after selling 40,913 shares during the quarter. Penserra Capital Management LLC’s holdings in Novo Nordisk A/S were worth $645,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Natixis Advisors LLC increased its position in Novo Nordisk A/S by 2.7% during the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after buying an additional 80,070 shares in the last quarter. Zions Bancorporation N.A. increased its holdings in shares of Novo Nordisk A/S by 57.0% during the third quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock valued at $2,207,000 after acquiring an additional 6,726 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Novo Nordisk A/S by 14.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock worth $34,463,000 after purchasing an additional 37,346 shares during the last quarter. Private Wealth Partners LLC grew its position in Novo Nordisk A/S by 155.1% during the 3rd quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after purchasing an additional 20,188 shares during the last quarter. Finally, Buckingham Capital Management Inc. bought a new stake in Novo Nordisk A/S during the 3rd quarter valued at about $3,874,000. Institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NVO. BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Trading Down 0.0 %

NYSE:NVO opened at $106.12 on Thursday. The company has a 50 day simple moving average of $113.80 and a two-hundred day simple moving average of $128.33. The company has a market cap of $476.22 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 12 month low of $94.73 and a 12 month high of $148.15.

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.