Fifth Third Bancorp Trims Stake in Novo Nordisk A/S (NYSE:NVO)

Fifth Third Bancorp cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,243 shares of the company’s stock after selling 171 shares during the period. Fifth Third Bancorp’s holdings in Novo Nordisk A/S were worth $4,150,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NVO. Xponance Inc. grew its holdings in Novo Nordisk A/S by 27.6% during the second quarter. Xponance Inc. now owns 2,665 shares of the company’s stock valued at $380,000 after purchasing an additional 576 shares during the period. AQR Capital Management LLC increased its holdings in Novo Nordisk A/S by 110.5% in the 2nd quarter. AQR Capital Management LLC now owns 17,164 shares of the company’s stock worth $2,450,000 after acquiring an additional 9,012 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Novo Nordisk A/S by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,876 shares of the company’s stock worth $18,824,000 after acquiring an additional 2,817 shares during the period. Scientech Research LLC purchased a new position in Novo Nordisk A/S during the second quarter valued at approximately $467,000. Finally, Ascent Group LLC boosted its position in shares of Novo Nordisk A/S by 19.1% in the second quarter. Ascent Group LLC now owns 22,869 shares of the company’s stock worth $3,264,000 after purchasing an additional 3,670 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $87.94 on Monday. The company has a market cap of $394.65 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 0.90 and a beta of 0.45. Novo Nordisk A/S has a 1 year low of $78.17 and a 1 year high of $148.15. The stock’s 50 day simple moving average is $95.35 and its two-hundred day simple moving average is $114.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVO. BMO Capital Markets lowered 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. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $145.25.

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.