Novo Nordisk A/S (NYSE:NVO) Shares Sold by Channel Wealth LLC

Channel Wealth LLC trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,419 shares of the company's stock after selling 7,934 shares during the period. Novo Nordisk A/S comprises 1.4% of Channel Wealth LLC's investment portfolio, making the stock its 21st largest position. Channel Wealth LLC's holdings in Novo Nordisk A/S were worth $4,251,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Novo Nordisk A/S by 2.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 77,494 shares of the company's stock valued at $11,061,000 after buying an additional 1,860 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Novo Nordisk A/S by 4.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 204,581 shares of the company's stock valued at $29,202,000 after purchasing an additional 8,030 shares during the period. Argent Trust Co lifted its position in shares of Novo Nordisk A/S by 25.6% during the second quarter. Argent Trust Co now owns 8,958 shares of the company's stock worth $1,279,000 after purchasing an additional 1,824 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Novo Nordisk A/S by 13.2% in the second quarter. Blair William & Co. IL now owns 80,415 shares of the company's stock valued at $11,478,000 after purchasing an additional 9,379 shares during the period. Finally, Waterloo Capital L.P. purchased a new position in shares of Novo Nordisk A/S in the second quarter valued at $480,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

NYSE NVO traded down $4.33 during trading hours on Friday, reaching $78.74. The company's stock had a trading volume of 19,156,908 shares, compared to its average volume of 8,973,980. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $98.33 and a 200 day simple moving average of $117.69. Novo Nordisk A/S has a 52 week low of $78.17 and a 52 week high of $148.15. The stock has a market cap of $353.33 billion, a PE ratio of 25.48, a PEG ratio of 0.92 and a beta of 0.45.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NVO shares. Cantor Fitzgerald reissued 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. StockNews.com downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research note on Sunday, December 29th. BNP Paribas raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, December 2nd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. Finally, BMO Capital Markets decreased their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating for the company in a research note on Monday, December 23rd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $140.20.

Novo Nordisk A/S 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.