Novo Nordisk A/S (NYSE:NVO) Shares Sold by Bank of Montreal Can

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

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its holdings in shares of Novo Nordisk A/S by 10,608.4% in 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 grew its stake in shares of Novo Nordisk A/S by 257,816.0% in the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after buying an additional 1,593,303 shares during the period. Mediolanum International Funds Ltd acquired a new stake in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $98,765,000. Marshall Wace LLP raised its position in shares of Novo Nordisk A/S by 34,472.1% during the 2nd quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock valued at $98,696,000 after buying an additional 689,441 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Novo Nordisk A/S in the second quarter valued at approximately $41,646,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $104.56 on Tuesday. The company has a market cap of $469.22 billion, a P/E ratio of 33.84, a PEG ratio of 1.35 and a beta of 0.42. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average price is $114.83 and its 200 day moving average price is $128.64.

Analyst Ratings Changes

NVO has been the topic of a number of research analyst reports. BMO Capital Markets reduced 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. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed 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. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $144.50.

About Novo Nordisk A/S

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.