Pitcairn Co. Sells 1,009 Shares of Novo Nordisk A/S (NYSE:NVO)

Pitcairn Co. reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 6.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,383 shares of the company’s stock after selling 1,009 shares during the period. Pitcairn Co.’s holdings in Novo Nordisk A/S were worth $1,713,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

NVO has been the topic of a number of analyst reports. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. BMO Capital Markets lowered their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, 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. One 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $105.06 on Friday. The firm has a market capitalization of $471.46 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 1.32 and a beta of 0.42. The stock has a fifty day moving average of $115.48 and a 200 day moving average of $128.80. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week high of $148.15. 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 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.