Dakota Wealth Management Reduces Stock Position in Novo Nordisk A/S (NYSE:NVO)

Dakota Wealth Management lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 29.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 23,984 shares of the company’s stock after selling 9,924 shares during the quarter. Dakota Wealth Management’s holdings in Novo Nordisk A/S were worth $2,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Raymond James & Associates boosted its holdings in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after acquiring an additional 36,223 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Novo Nordisk A/S by 2.7% during the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after acquiring an additional 80,070 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Novo Nordisk A/S by 10,608.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after acquiring an additional 1,796,635 shares during the last quarter. DSM Capital Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Novo Nordisk A/S by 3.6% during the 3rd quarter. LPL Financial LLC now owns 1,362,782 shares of the company’s stock valued at $162,266,000 after acquiring an additional 47,496 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $145.25.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $81.36 on Friday. Novo Nordisk A/S has a 12 month low of $78.17 and a 12 month high of $148.15. The stock has a market cap of $365.09 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 0.89 and a beta of 0.45. The company’s 50 day moving average is $96.10 and its two-hundred day moving average is $115.79. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

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.