Jennison Associates LLC Trims Holdings in Novo Nordisk A/S (NYSE:NVO)

Jennison Associates LLC trimmed its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,195,957 shares of the company's stock after selling 1,024,684 shares during the period. Novo Nordisk A/S comprises 1.5% of Jennison Associates LLC's portfolio, making the stock its 17th biggest holding. Jennison Associates LLC owned about 0.45% of Novo Nordisk A/S worth $2,404,733,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NVO. Commerce Bank lifted its stake in shares of Novo Nordisk A/S by 16.0% during the 3rd quarter. Commerce Bank now owns 32,534 shares of the company's stock valued at $3,874,000 after buying an additional 4,489 shares in the last quarter. Strategy Asset Managers LLC increased its position in Novo Nordisk A/S by 102.3% in the third quarter. Strategy Asset Managers LLC now owns 4,364 shares of the company's stock worth $520,000 after purchasing an additional 2,207 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in shares of Novo Nordisk A/S by 41.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 318,540 shares of the company's stock valued at $37,929,000 after buying an additional 93,922 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $357,000. Finally, Avior Wealth Management LLC boosted its stake in shares of Novo Nordisk A/S by 4.8% during the 3rd quarter. Avior Wealth Management LLC now owns 18,086 shares of the company's stock worth $2,154,000 after purchasing an additional 825 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on NVO. Cantor Fitzgerald reiterated an "overweight" rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com raised shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 1st. Finally, BMO Capital Markets lowered their price target on 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. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $144.50.

Novo Nordisk A/S Stock Up 2.5 %

Shares of Novo Nordisk A/S stock traded up $2.61 on Wednesday, reaching $105.24. The stock had a trading volume of 5,281,995 shares, compared to its average volume of 4,485,371. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $472.27 billion, a P/E ratio of 33.22, a P/E/G ratio of 1.31 and a beta of 0.42. The company has a 50 day moving average price of $117.40 and a 200 day moving average price of $129.27. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15.

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.