Bamco Inc. NY Sells 11,987 Shares of Novo Nordisk A/S (NYSE:NVO)

Bamco Inc. NY cut its stake in Novo Nordisk A/S (NYSE:NVO) by 26.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,995 shares of the company’s stock after selling 11,987 shares during the period. Bamco Inc. NY’s holdings in Novo Nordisk A/S were worth $4,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth $25,000. Gilliland Jeter Wealth Management LLC boosted its position in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth about $25,000. Abound Wealth Management raised its position in shares of Novo Nordisk A/S by 257.4% in the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after acquiring an additional 157 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NVO. BMO Capital Markets lowered 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 reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $109.16 on Wednesday. The company has a market cap of $489.86 billion, a P/E ratio of 35.33, a PEG ratio of 1.40 and a beta of 0.40. The company has a fifty day simple moving average of $112.18 and a 200 day simple moving average of $127.59. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15.

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.