Atwater Malick LLC Trims Stock Position in Novo Nordisk A/S (NYSE:NVO)

Atwater Malick LLC reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 162,228 shares of the company's stock after selling 4,604 shares during the period. Novo Nordisk A/S comprises approximately 4.7% of Atwater Malick LLC's portfolio, making the stock its 7th biggest position. Atwater Malick LLC's holdings in Novo Nordisk A/S were worth $13,955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVO. Strategic Investment Solutions Inc. IL bought a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. Daiwa Securities Group Inc. bought a new position in shares of Novo Nordisk A/S in the third quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of Novo Nordisk A/S in the third quarter valued at approximately $42,000. Carolina Wealth Advisors LLC bought a new position in shares of Novo Nordisk A/S in the third quarter valued at approximately $48,000. Finally, M&R Capital Management Inc. grew its holdings in shares of Novo Nordisk A/S by 260.5% in the third quarter. M&R Capital Management Inc. now owns 411 shares of the company's stock valued at $49,000 after acquiring an additional 297 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the topic of several research analyst reports. Sanford C. Bernstein upgraded Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research note on Monday, January 6th. Cantor Fitzgerald reiterated 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. UBS Group upgraded Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. BNP Paribas upgraded Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, December 2nd. Finally, BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating on the stock in a research note on Monday, December 23rd. One equities research 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 company's stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of "Buy" and an average price target of $140.20.

Novo Nordisk A/S Price Performance

Shares of NVO stock traded down $4.33 on Friday, reaching $78.74. The company's stock had a trading volume of 21,239,835 shares, compared to its average volume of 8,206,201. 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 12-month low of $78.17 and a 12-month high of $148.15. The company has a market capitalization of $353.33 billion, a P/E ratio of 25.48, a PEG ratio of 0.92 and a beta of 0.45. The stock's 50 day simple moving average is $97.76 and its 200-day simple moving average is $117.23.

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.