Chemung Canal Trust Co. Decreases Position in Novo Nordisk A/S (NYSE:NVO)

Chemung Canal Trust Co. decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,715 shares of the company’s stock after selling 417 shares during the quarter. Chemung Canal Trust Co.’s holdings in Novo Nordisk A/S were worth $922,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Xponance Inc. boosted its position in shares of 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 buying an additional 576 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Novo Nordisk A/S by 110.5% during the 2nd quarter. AQR Capital Management LLC now owns 17,164 shares of the company’s stock valued at $2,450,000 after acquiring an additional 9,012 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in shares of Novo Nordisk A/S by 15.9% in the second quarter. Daymark Wealth Partners LLC now owns 6,290 shares of the company’s stock worth $898,000 after acquiring an additional 864 shares during the period. Maverick Capital Ltd. lifted its position in Novo Nordisk A/S by 272.9% during the second quarter. Maverick Capital Ltd. now owns 7,849 shares of the company’s stock valued at $1,120,000 after purchasing an additional 5,744 shares during the period. Finally, Matrix Private Capital Group LLC boosted its holdings in Novo Nordisk A/S by 7.9% in the second quarter. Matrix Private Capital Group LLC now owns 1,757 shares of the company’s stock worth $251,000 after purchasing an additional 129 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 8.4 %

Novo Nordisk A/S stock opened at $87.94 on Friday. Novo Nordisk A/S has a 12-month low of $78.17 and a 12-month high of $148.15. The firm has a market capitalization of $394.65 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 0.90 and a beta of 0.45. The firm has a 50 day moving average of $95.62 and a 200 day moving average of $115.55. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald reiterated 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. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $145.25.

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.