Jennison Associates LLC Reduces Stock Position in Novo Nordisk A/S (NYSE:NVO)

Jennison Associates LLC cut its stake in Novo Nordisk A/S (NYSE:NVO) by 4.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,195,957 shares of the company’s stock after selling 1,024,684 shares during the period. Novo Nordisk A/S makes up about 1.5% of Jennison Associates LLC’s holdings, making the stock its 17th largest holding. Jennison Associates LLC owned approximately 0.45% of Novo Nordisk A/S worth $2,404,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Natixis Advisors LLC grew its position in Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after acquiring an additional 80,070 shares during the period. Zions Bancorporation N.A. grew its position in Novo Nordisk A/S by 57.0% in the third quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after acquiring an additional 6,726 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in 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 acquiring an additional 37,346 shares during the period. Private Wealth Partners LLC grew its position in Novo Nordisk A/S by 155.1% in the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock worth $3,953,000 after acquiring an additional 20,188 shares during the period. Finally, Buckingham Capital Management Inc. purchased a new position in Novo Nordisk A/S in the third quarter worth approximately $3,874,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Up 2.8 %

Novo Nordisk A/S stock opened at $102.65 on Wednesday. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a market cap of $460.62 billion, a PE ratio of 33.22, a P/E/G ratio of 1.31 and a beta of 0.42. The stock’s fifty day moving average is $117.40 and its two-hundred day moving average is $129.27.

Analyst Ratings Changes

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

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.