Procyon Advisors LLC Sells 8,178 Shares of Novo Nordisk A/S (NYSE:NVO)

Procyon Advisors LLC trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 12.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,471 shares of the company's stock after selling 8,178 shares during the quarter. Procyon Advisors LLC's holdings in Novo Nordisk A/S were worth $4,772,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Novare Capital Management LLC increased its position in Novo Nordisk A/S by 3.2% in the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company's stock worth $325,000 after buying an additional 85 shares during the last quarter. Steel Grove Capital Advisors LLC increased its position in Novo Nordisk A/S by 2.3% in the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company's stock worth $541,000 after buying an additional 86 shares during the last quarter. Benjamin Edwards Inc. increased its position in Novo Nordisk A/S by 2.6% in the second quarter. Benjamin Edwards Inc. now owns 3,455 shares of the company's stock worth $493,000 after buying an additional 87 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in Novo Nordisk A/S by 2.5% in the third quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company's stock worth $454,000 after buying an additional 94 shares during the last quarter. Finally, Burns J W & Co. Inc. NY increased its position in Novo Nordisk A/S by 1.9% in the third quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company's stock worth $647,000 after buying an additional 100 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NYSE:NVO traded down $4.33 during trading hours on Friday, hitting $78.74. 20,851,177 shares of the company's stock traded hands, compared to its average volume of 9,248,204. The firm has a market cap of $353.33 billion, a P/E ratio of 25.48, a P/E/G ratio of 0.92 and a beta of 0.45. Novo Nordisk A/S has a 52 week low of $78.17 and a 52 week high of $148.15. The business's fifty day simple moving average is $98.33 and its two-hundred day simple moving average is $117.69. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. StockNews.com lowered Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a report on Sunday, December 29th. Sanford C. Bernstein raised Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a report on Monday, January 6th. BNP Paribas raised Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, December 2nd. Finally, BMO Capital Markets cut their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating for the company in a report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $140.20.

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.