Agate Pass Investment Management LLC Reduces Holdings in Novo Nordisk A/S (NYSE:NVO)

Agate Pass Investment Management LLC reduced its position in Novo Nordisk A/S (NYSE:NVO) by 37.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,019 shares of the company’s stock after selling 4,731 shares during the period. Agate Pass Investment Management LLC’s holdings in Novo Nordisk A/S were worth $690,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Thomasville National Bank boosted its holdings in shares of Novo Nordisk A/S by 54.0% in the fourth quarter. Thomasville National Bank now owns 2,933 shares of the company’s stock valued at $252,000 after acquiring an additional 1,028 shares during the period. Capital Investment Advisors LLC boosted its stake in Novo Nordisk A/S by 12.1% during the 4th quarter. Capital Investment Advisors LLC now owns 4,435 shares of the company’s stock worth $382,000 after purchasing an additional 478 shares during the period. Fiduciary Alliance LLC grew its position in Novo Nordisk A/S by 11.4% during the 4th quarter. Fiduciary Alliance LLC now owns 8,107 shares of the company’s stock worth $697,000 after purchasing an additional 829 shares during the last quarter. Atlas Brown Inc. increased its stake in Novo Nordisk A/S by 33.4% in the fourth quarter. Atlas Brown Inc. now owns 5,130 shares of the company’s stock valued at $441,000 after purchasing an additional 1,285 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at about $58,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Shares of NVO traded down $1.74 during trading hours on Monday, reaching $84.52. The company had a trading volume of 4,285,283 shares, compared to its average volume of 6,958,351. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 12-month low of $81.50 and a 12-month high of $148.15. The firm has a 50 day simple moving average of $100.35 and a 200-day simple moving average of $119.04. The company has a market capitalization of $379.29 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 1.37 and a beta of 0.45.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BMO Capital Markets cut their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Finally, 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. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $140.20.

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.