Novo Nordisk A/S (NYSE:NVO) Stake Cut by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,572 shares of the company’s stock after selling 686 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Novo Nordisk A/S were worth $1,340,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital Insight Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 13.0% in the 4th quarter. Capital Insight Partners LLC now owns 52,212 shares of the company’s stock valued at $4,491,000 after buying an additional 6,008 shares during the period. Abundance Wealth Counselors lifted its holdings in Novo Nordisk A/S by 14.4% in the fourth quarter. Abundance Wealth Counselors now owns 4,288 shares of the company’s stock worth $369,000 after acquiring an additional 541 shares during the last quarter. Independence Bank of Kentucky boosted its stake in Novo Nordisk A/S by 14.8% in the fourth quarter. Independence Bank of Kentucky now owns 13,190 shares of the company’s stock valued at $1,135,000 after acquiring an additional 1,700 shares during the period. SeaBridge Investment Advisors LLC bought a new position in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $252,000. Finally, Chicago Partners Investment Group LLC raised its position in shares of Novo Nordisk A/S by 7.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 18,788 shares of the company’s stock worth $1,609,000 after purchasing an additional 1,283 shares during the period. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NVO. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets lowered their price target 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. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S presently has an average rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Performance

NVO stock opened at $84.36 on Friday. The company has a 50-day simple moving average of $93.56 and a 200 day simple moving average of $113.22. The company has a market capitalization of $378.56 billion, a P/E ratio of 27.30, a PEG ratio of 0.92 and a beta of 0.45. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a fifty-two week low of $78.17 and a fifty-two week high of $148.15.

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.