South Street Advisors LLC Lowers Stake in Novo Nordisk A/S (NYSE:NVO)

South Street Advisors LLC decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 19.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,531 shares of the company's stock after selling 44,988 shares during the quarter. Novo Nordisk A/S makes up approximately 3.4% of South Street Advisors LLC's holdings, making the stock its 8th biggest holding. South Street Advisors LLC's holdings in Novo Nordisk A/S were worth $22,210,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. RIA Advisory Group LLC acquired a new stake in shares of Novo Nordisk A/S in the third quarter valued at approximately $281,000. Natixis Advisors LLC increased its stake in shares of Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company's stock valued at $366,125,000 after purchasing an additional 80,070 shares during the period. First Long Island Investors LLC acquired a new position in shares of Novo Nordisk A/S during the third quarter valued at approximately $3,715,000. Birchcreek Wealth Management LLC increased its stake in shares of Novo Nordisk A/S by 8.3% during the third quarter. Birchcreek Wealth Management LLC now owns 2,542 shares of the company's stock valued at $303,000 after acquiring an additional 195 shares during the period. Finally, Sheaff Brock Investment Advisors LLC increased its stake in shares of Novo Nordisk A/S by 4.5% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 3,470 shares of the company's stock valued at $413,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

NVO traded down $3.58 during trading on Friday, hitting $101.74. The stock had a trading volume of 8,076,248 shares, compared to its average volume of 4,457,389. The firm has a market cap of $456.56 billion, a PE ratio of 32.93, a P/E/G ratio of 1.31 and a beta of 0.42. Novo Nordisk A/S has a 12 month low of $94.73 and a 12 month 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 company has a 50 day simple moving average of $118.58 and a 200-day simple moving average of $129.58.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of research reports. Cantor Fitzgerald restated an "overweight" rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets cut their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 1st. One equities 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 stock has a consensus rating of "Buy" and a consensus price target of $144.50.

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.