Novo Nordisk A/S (NYSE:NVO) Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC reduced its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 30.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,825 shares of the company's stock after selling 12,748 shares during the quarter. Renaissance Investment Group LLC's holdings in Novo Nordisk A/S were worth $2,480,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NVO. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S during the 2nd quarter valued at $25,000. Daiwa Securities Group Inc. bought a new stake in Novo Nordisk A/S during the third quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new position in Novo Nordisk A/S in the third quarter valued at about $42,000. Carolina Wealth Advisors LLC bought a new position in Novo Nordisk A/S in the third quarter worth about $48,000. Finally, M&R Capital Management Inc. lifted its position in shares of Novo Nordisk A/S by 260.5% during the third quarter. M&R Capital Management Inc. now owns 411 shares of the company's stock valued at $49,000 after buying an additional 297 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO traded down $4.33 during trading on Friday, hitting $78.74. The 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 stock has a market capitalization of $353.33 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.45. The stock has a 50-day simple moving average of $97.76 and a two-hundred day simple moving average of $117.05.

Analyst Upgrades and Downgrades

Several research firms recently commented on NVO. BNP Paribas upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, December 2nd. Cantor Fitzgerald reiterated an "overweight" rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report 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. StockNews.com cut Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research note on Sunday, December 29th. Finally, 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. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $140.20.

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.