Drive Wealth Management LLC Cuts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Drive Wealth Management LLC lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 28.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,699 shares of the company’s stock after selling 2,645 shares during the quarter. Drive Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $576,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Natixis Advisors LLC raised its stake in 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 last quarter. Norman Fields Gottscho Capital Management LLC lifted its stake in Novo Nordisk A/S by 45.3% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock worth $5,482,000 after acquiring an additional 19,870 shares in the last quarter. Versant Capital Management Inc acquired a new position in Novo Nordisk A/S in the 4th quarter valued at about $86,000. Talbot Financial LLC purchased a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $4,066,000. Finally, Zions Bancorporation N.A. boosted its holdings in Novo Nordisk A/S by 57.0% in the third quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock valued at $2,207,000 after purchasing an additional 6,726 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $87.94 on Monday. The business has a 50-day moving average of $95.35 and a 200-day moving average of $114.99. Novo Nordisk A/S has a 1-year low of $78.17 and a 1-year high of $148.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The company has a market capitalization of $394.65 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 0.90 and a beta of 0.45.

Analyst Ratings Changes

A number of brokerages have issued reports on NVO. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald restated 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. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, 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. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock 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.