Bank of Montreal Can Lowers Holdings in Novo Nordisk A/S (NYSE:NVO)

Bank of Montreal Can lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 6.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,121,092 shares of the company’s stock after selling 79,215 shares during the period. Bank of Montreal Can’s holdings in Novo Nordisk A/S were worth $135,383,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NVO. Envestnet Asset Management Inc. lifted its holdings in Novo Nordisk A/S by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after acquiring an additional 58,935 shares during the period. Raymond James & Associates increased 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 purchasing an additional 36,223 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of 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 valued at $366,125,000 after purchasing an additional 80,070 shares during the period. International Assets Investment Management LLC boosted its holdings in Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after buying an additional 1,796,635 shares in the last quarter. Finally, DSM Capital Partners LLC boosted its holdings in Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after buying an additional 1,593,303 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

NVO has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price 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 on the stock in a research 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 report on Friday, November 1st. One equities research 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 stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Trading Down 0.5 %

Shares of NVO opened at $104.56 on Tuesday. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15. The stock has a market cap of $469.22 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42. The firm’s fifty day moving average is $114.83 and its two-hundred day moving average is $128.64. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

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.