Portside Wealth Group LLC Reduces Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Portside Wealth Group LLC cut its position in shares of Novo Nordisk A/S (NYSE:NVO) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,431 shares of the company’s stock after selling 584 shares during the period. Novo Nordisk A/S makes up 0.9% of Portside Wealth Group LLC’s holdings, making the stock its 25th biggest holding. Portside Wealth Group LLC’s holdings in Novo Nordisk A/S were worth $5,026,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NVO. IAM Advisory LLC lifted its stake in shares of Novo Nordisk A/S by 1.3% in the 4th quarter. IAM Advisory LLC now owns 16,836 shares of the company’s stock valued at $1,448,000 after purchasing an additional 222 shares during the last quarter. Riversedge Advisors LLC lifted its position in Novo Nordisk A/S by 7.0% in the fourth quarter. Riversedge Advisors LLC now owns 3,768 shares of the company’s stock valued at $324,000 after buying an additional 245 shares during the last quarter. Ameritas Advisory Services LLC boosted its stake in Novo Nordisk A/S by 453.3% during the fourth quarter. Ameritas Advisory Services LLC now owns 11,000 shares of the company’s stock worth $946,000 after buying an additional 9,012 shares during the period. HB Wealth Management LLC increased its position in shares of Novo Nordisk A/S by 5.4% during the fourth quarter. HB Wealth Management LLC now owns 17,122 shares of the company’s stock valued at $1,473,000 after acquiring an additional 875 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. lifted its holdings in shares of Novo Nordisk A/S by 73.1% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 15,568 shares of the company’s stock worth $1,339,000 after acquiring an additional 6,575 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 5.2 %

Shares of Novo Nordisk A/S stock opened at $78.74 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. Novo Nordisk A/S has a 52-week low of $78.17 and a 52-week high of $148.15. The company has a market capitalization of $353.33 billion, a P/E ratio of 25.48, a P/E/G ratio of 0.92 and a beta of 0.45. The company has a 50 day moving average of $97.76 and a 200 day moving average of $117.23.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of research analyst reports. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Finally, BMO Capital Markets cut their target price on shares of 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. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $140.20.

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.