Loomis Sayles & Co. L P Cuts Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Loomis Sayles & Co. L P lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 3.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,623,915 shares of the company’s stock after selling 273,522 shares during the period. Novo Nordisk A/S makes up approximately 1.3% of Loomis Sayles & Co. L P’s portfolio, making the stock its 18th biggest holding. Loomis Sayles & Co. L P’s holdings in Novo Nordisk A/S were worth $1,026,849,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Natixis Advisors LLC increased its stake in Novo Nordisk A/S by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after purchasing an additional 80,070 shares during the period. Zions Bancorporation N.A. increased its stake in shares of Novo Nordisk A/S by 57.0% in the third quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after buying an additional 6,726 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Novo Nordisk A/S by 14.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock worth $34,463,000 after buying an additional 37,346 shares during the period. Private Wealth Partners LLC boosted its position in Novo Nordisk A/S by 155.1% during the 3rd quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after buying an additional 20,188 shares during the period. Finally, Buckingham Capital Management Inc. purchased a new stake in Novo Nordisk A/S during the 3rd quarter valued at $3,874,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 2.4 %

Shares of Novo Nordisk A/S stock opened at $105.06 on Monday. The company has a 50-day moving average of $115.48 and a 200 day moving average of $128.81. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The firm has a market cap of $471.46 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 1.35 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Analyst Ratings Changes

NVO has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BMO Capital Markets decreased 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. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Company 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.