Logan Capital Management Inc. Lowers Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Logan Capital Management Inc. cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 29,413 shares of the company’s stock after selling 117 shares during the period. Logan Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $3,502,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. American Trust increased its stake in Novo Nordisk A/S by 139.1% in the third quarter. American Trust now owns 12,725 shares of the company’s stock valued at $1,515,000 after purchasing an additional 7,402 shares during the last quarter. Tri Ri Asset Management Corp acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter valued at about $17,276,000. Peapack Gladstone Financial Corp lifted its holdings in shares of Novo Nordisk A/S by 17.2% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 28,156 shares of the company’s stock worth $3,353,000 after acquiring an additional 4,122 shares during the period. Synovus Financial Corp increased its position in Novo Nordisk A/S by 5.2% during the third quarter. Synovus Financial Corp now owns 54,697 shares of the company’s stock worth $6,513,000 after purchasing an additional 2,684 shares during the last quarter. Finally, Optimist Retirement Group LLC boosted its holdings in shares of Novo Nordisk A/S by 4.3% in the 3rd quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock valued at $327,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 1.5 %

NYSE NVO opened at $106.96 on Friday. Novo Nordisk A/S has a 52 week low of $96.53 and a 52 week high of $148.15. The stock has a market cap of $479.99 billion, a P/E ratio of 34.61, a PEG ratio of 1.43 and a beta of 0.40. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The company’s fifty day simple moving average is $110.59 and its 200-day simple moving average is $126.27.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVO. BMO Capital Markets decreased their target price on 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. Cantor Fitzgerald reaffirmed 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. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One research 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. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $150.40.

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.