Novo Nordisk A/S (NYSE:NVO) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 4.8% during the third quarter, Holdings Channel reports. 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 position. Jennison Associates LLC’s holdings in Novo Nordisk A/S were worth $2,404,733,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NVO. Natixis grew its holdings in shares of Novo Nordisk A/S by 748.1% during the first quarter. Natixis now owns 5,903 shares of the company’s stock worth $758,000 after purchasing an additional 5,207 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Novo Nordisk A/S during the first quarter worth about $50,000. Vident Advisory LLC grew its holdings in shares of Novo Nordisk A/S by 4.2% during the first quarter. Vident Advisory LLC now owns 31,522 shares of the company’s stock worth $4,048,000 after buying an additional 1,258 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Novo Nordisk A/S by 223.6% during the first quarter. CreativeOne Wealth LLC now owns 17,558 shares of the company’s stock worth $2,254,000 after buying an additional 12,132 shares during the last quarter. Finally, Wellington Wealth Strategies LLC. purchased a new position in shares of Novo Nordisk A/S during the first quarter worth about $2,294,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 2.8 %

Shares of Novo Nordisk A/S stock opened at $102.65 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The company has a market capitalization of $460.62 billion, a P/E ratio of 33.22, a P/E/G ratio of 1.31 and a beta of 0.42. The business has a 50 day moving average price of $117.40 and a 200 day moving average price of $129.27.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NVO shares. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, BMO Capital Markets lowered their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $144.50.

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.