Resources Management Corp CT ADV Lowers Stake in Novo Nordisk A/S (NYSE:NVO)

Resources Management Corp CT ADV reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,100 shares of the company’s stock after selling 350 shares during the quarter. Resources Management Corp CT ADV’s holdings in Novo Nordisk A/S were worth $1,798,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NVO. International Assets Investment Management LLC boosted its stake in shares of 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 valued at $215,942,000 after purchasing an additional 1,796,635 shares during the period. DSM Capital Partners LLC lifted its stake in Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after acquiring an additional 1,593,303 shares during the period. Mediolanum International Funds Ltd purchased a new stake in Novo Nordisk A/S in the third quarter worth about $98,765,000. Marshall Wace LLP lifted its stake in Novo Nordisk A/S by 34,472.1% in the second quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after acquiring an additional 689,441 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in Novo Nordisk A/S in the third quarter worth about $42,017,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVO. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Buy” and an average target price of $150.40.

Novo Nordisk A/S Stock Performance

NVO stock opened at $111.10 on Tuesday. The firm has a market cap of $498.56 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 1.41 and a beta of 0.40. The firm has a 50-day simple moving average of $111.15 and a two-hundred day simple moving average of $126.90. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

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.