Chase Investment Counsel Corp Reduces Position in Novo Nordisk A/S (NYSE:NVO)

Chase Investment Counsel Corp cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 86.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,337 shares of the company's stock after selling 40,605 shares during the period. Chase Investment Counsel Corp's holdings in Novo Nordisk A/S were worth $754,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in NVO. Price T Rowe Associates Inc. MD lifted its holdings in Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company's stock valued at $1,102,857,000 after acquiring an additional 823,036 shares during the period. Envestnet Asset Management Inc. raised its position in Novo Nordisk A/S by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company's stock worth $607,242,000 after acquiring an additional 58,935 shares during the period. GQG Partners LLC lifted its holdings in Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company's stock valued at $466,485,000 after purchasing an additional 3,151,584 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company's stock valued at $419,939,000 after purchasing an additional 36,223 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Novo Nordisk A/S by 7.8% during the first quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company's stock valued at $304,697,000 after purchasing an additional 172,003 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. Finally, StockNews.com raised shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $144.50.

Novo Nordisk A/S Stock Down 0.2 %

Shares of NVO traded down $0.17 during midday trading on Wednesday, hitting $106.89. 2,500,887 shares of the company's stock traded hands, compared to its average volume of 4,437,928. The firm's fifty day moving average is $120.23 and its 200-day moving average is $130.08. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. 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 stock has a market capitalization of $479.67 billion, a price-to-earnings ratio of 34.74, a price-to-earnings-growth ratio of 1.29 and a beta of 0.42.

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.