Journey Strategic Wealth LLC Cuts Holdings in Novo Nordisk A/S (NYSE:NVO)

Journey Strategic Wealth LLC decreased its position in Novo Nordisk A/S (NYSE:NVO) by 19.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,962 shares of the company’s stock after selling 1,862 shares during the period. Journey Strategic Wealth LLC’s holdings in Novo Nordisk A/S were worth $685,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NVO. Raymond James & Associates increased its holdings in Novo Nordisk A/S by 1.0% during the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after buying an additional 36,223 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of 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 worth $366,125,000 after purchasing an additional 80,070 shares during the last quarter. International Assets Investment Management LLC increased its stake 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 purchasing an additional 1,796,635 shares during the last quarter. LPL Financial LLC lifted its stake in Novo Nordisk A/S by 3.6% in the third quarter. LPL Financial LLC now owns 1,362,782 shares of the company’s stock valued at $162,266,000 after purchasing an additional 47,496 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in Novo Nordisk A/S by 75.1% during the fourth quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock valued at $90,477,000 after purchasing an additional 451,641 shares during the period. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NVO. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note 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, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Price Performance

NVO stock opened at $84.36 on Monday. The firm has a 50 day moving average of $93.56 and a 200-day moving average of $113.03. The firm has a market capitalization of $378.56 billion, a P/E ratio of 27.30, a price-to-earnings-growth ratio of 0.92 and a beta of 0.45. Novo Nordisk A/S has a 12 month low of $78.17 and a 12 month high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

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.