Palisade Asset Management LLC Cuts Stake in Novo Nordisk A/S (NYSE:NVO)

Palisade Asset Management LLC lowered its position in shares of Novo Nordisk A/S (NYSE:NVO) by 13.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,296 shares of the company’s stock after selling 350 shares during the quarter. Palisade Asset Management LLC’s holdings in Novo Nordisk A/S were worth $273,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Natixis Advisors LLC grew its stake in shares of Novo Nordisk A/S by 2.7% during the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after purchasing an additional 80,070 shares during the period. Zions Bancorporation N.A. grew its stake in shares of Novo Nordisk A/S by 57.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after purchasing an additional 6,726 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Novo Nordisk A/S by 14.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock worth $34,463,000 after purchasing an additional 37,346 shares during the period. Private Wealth Partners LLC grew its stake in shares of Novo Nordisk A/S by 155.1% during the 3rd quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock worth $3,953,000 after purchasing an additional 20,188 shares during the period. Finally, Buckingham Capital Management Inc. acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth $3,874,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $105.06 on Friday. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15. The stock has a market capitalization of $471.46 billion, a P/E ratio of 34.00, a P/E/G ratio of 1.32 and a beta of 0.42. The firm’s 50-day moving average is $115.48 and its two-hundred day moving average is $128.80. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

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.