Novo Nordisk A/S (NYSE:NVO) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,547 shares of the company’s stock after selling 570 shares during the quarter. Novo Nordisk A/S comprises 1.9% of Ipswich Investment Management Co. Inc.’s investment portfolio, making the stock its 14th biggest position. Ipswich Investment Management Co. Inc.’s holdings in Novo Nordisk A/S were worth $8,400,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. GQG Partners LLC lifted its position in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after purchasing an additional 3,151,584 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of 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 in the last quarter. DSM Capital Partners LLC raised its position in shares of Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after acquiring an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Novo Nordisk A/S by 1,300.8% during the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after purchasing an additional 1,155,313 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in Novo Nordisk A/S during the third quarter worth approximately $98,765,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVO. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One investment 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Down 3.4 %

Shares of Novo Nordisk A/S stock opened at $101.74 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $118.58 and a 200 day moving average price of $129.58. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. The firm has a market cap of $456.56 billion, a P/E ratio of 32.93, a P/E/G ratio of 1.31 and a beta of 0.42.

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.